Corporate FCPA Enforcement In 2023 Compared To Prior Years
This post, the first in a weeks-long year in review statistical feast on FCPA Professor, compares corporate FCPA enforcement in 2023 to prior years.
Keep the numbers in this post in mind when you see other 2023 FCPA enforcement statistics that use creative and haphazard counting methods or fail to use accurate or consistent math in terms of settlement amount. (See here).
Over the past several months, there were certain claims that suggested there was a “lull” in FCPA enforcement in 2023, a “slow down” or “slump.” These claims were complete bullsh*t. (See here and here).
What You Need To Know From Q3
This post provides a summary of Foreign Corrupt Practices Act enforcement activity and related developments from the third quarter of 2023. (See here for a similar post for Q1 and here for Q2).
DOJ Enforcement (Corporate)
The DOJ brought two corporate enforcement actions in the third quarter. The net settlement amounts from these enforcement actions totaled $135.1 million.
Mid-Year FCPA Report
This post highlights Foreign Corrupt Practices Act enforcement and related developments at the mid-point of 2023.
As highlighted below, in six core corporate enforcement actions, the DOJ/SEC have secured net approximately $93 million in FCPA settlement amounts. For a similar post at the mid-point of 2022 see here; for 2021 see here; for 2020 see here; for 2019 see here; for 2018 see here; for 2017 see here; and for 2016 see here.
This post breaks down FCPA enforcement into the following categories: DOJ (corporate); DOJ (individual); SEC (corporate); and SEC (individual).
Thereafter, this post highlights other FCPA developments or items of interest thus far in 2023.
What You Need To Know From Q2
This post provides a summary of Foreign Corrupt Practices Act enforcement activity and related developments from the second quarter of 2023. (See here for a similar post from Q1).
DOJ Enforcement (Corporate)
The DOJ did not announce any corporate FCPA enforcement actions in the second quarter.
DOJ Enforcement (Individual)
The DOJ did not announce any individual FCPA enforcement actions in the second quarter.
What You Need To Know From Q1
This post provides a summary of Foreign Corrupt Practices Act enforcement activity and related developments from the first quarter of 2023.
DOJ Enforcement (Corporate)
The DOJ announced one corporate enforcement action in the first quarter. DOJ recovery in this action was $1.2 million.
Corsa Coal (March 8)
As discussed here, the DOJ released a so-called declination with disgorgement letter involving Corsa Coal in connection with an alleged bribery scheme in Egypt. As stated in the letter, “the Government calculated that Corsa earned profits totaling approximately $32.7 million from the criminal scheme. Corsa, however, met its burden of establishing an inability to pay the full disgorgement of ill-gotten gains sought by the Government, despite agreeing that the amount was otherwise appropriate based on the law and the facts. Accordingly, Corsa agrees to disgorge $1,200,000.”