The FCPA Blog, one of the leading sources of misinformation in the Foreign Corrupt Practices Act space, is at it again.
This post asserts that with the recent J&F enforcement action (see here for the prior post) “2020 has officially become the largest year ever for FCPA settlements, with resolutions worth $2.94 billion.”
As highlighted below, the assertion is complete rubbish.
As set forth below, thus far in 2020 FCPA settlement amounts have totaled approximately $1.0 billion – a far cry from the $2.94 billion the FCPA Blog asserts.
$294 million DOJ settlement
$8.8 million SEC settlement
$24.5 million SEC settlement
$346.7 million settlement (DOJ – $233.9 million / SEC $112.8 million)
$21.5 million SEC settlement.
World Acceptance Corp.
$21.7 million SEC settlement
$123 million settlement (DOJ – $55.7 million / SEC 67.3 million)
$16.6 million DOJ settlement
See here for the prior post.
$155 million settlement (DOJ – $128.2 million / SEC $26.8 million)
Year to date FCPA settlement amounts = $1.01 billion.
Set forth below is where 2020 YTD falls in terms of the largest yearly FCPA settlement amounts in FCPA history.
- $2.65 billion in settlement amounts
- $2.4 billion in settlement amounts
- $1.6 billion in settlement amounts
- $1.4 billion in settlement amounts
- $1.1 billion in settlement amounts
- $1.0 billion in settlement amounts
What is funny about the FCPA’s blog assertion that “2020 has officially become the largest year ever for FCPA settlements, with resolutions worth $2.94 billion” is that the post was a teaser for its FCPA Blog+ paid subscription service “the same tool [the FCPA Blog] used to research [its] post.”