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FCPA Enforcement Actions Against Swiss Companies

Swiss flag in front of the Matterhorn, Zermatt, Valais, Switzerland, Europe

When thinking of foreign companies that have resolved Foreign Corrupt Practices Act enforcement actions, most people likely think of German and French companies and to be sure there have been several enforcement actions against companies from those countries.

Yet, one of top domiciliary of foreign companies to resolve FCPA enforcement actions is actually Switzerland.

This post highlights the ten FCPA enforcement actions against Swiss companies (including two FCPA repeat offenders) and/or related entities that have netted the U.S. treasury approximately $805 million.

ABB

As highlighted here and here, in 2004 ABB Ltd. (a Swiss corporation with headquarters in Zurich, Switzerland) along with related entities resolved an approximate $16 million DOJ/SEC enforcement action concerning conduct in Nigeria, Angola and Kazakhstan.

As highlighted here and here, in 2010 ABB and related entities resolved an approximate $58 million DOJ/SEC enforcement action concerning conduct in Mexico as well as in connection with the Iraqi U.N. Oil for Food program.

Novartis

As highlighted in this prior post, in 2016 Novartis (a Swiss pharmaceutical company with headquarters in Basel, Switzerland) resolved a $25 million SEC enforcement action concerning conduct in China.

As highlighted in this prior post, in 2020 Novartis resolved a $347 million DOJ/SEC enforcement action concerning conduct in Greece, Vietnam and South Korea.

Noble

As highlighted in this prior post, in 2010 Noble Corporation (a Swiss provider of offshore drilling services) resolved an approximate $8 million DOJ/SEC enforcement action concerning conduct in Nigeria.

Panalpina 

As highlighted in this prior post, in 2010 Panalpina World Transport (a Swiss freight forwarding company located in Basel, Switzerland) and related entities resolved an approximate $71 million DOJ/SEC enforcement action concerning conduct in Nigeria, Angola, Azerbaijan, Brazil, Kazakhstan, Russia, and Turkey.

Transocean

As highlighted in this prior post, in 2010 Transocean (a Swiss provider of offshore drilling services with its principal executive offices in Vernier, Switzerland) and related entities resolved an approximate $21 million DOJ/SEC enforcement action concerning conduct in Nigeria.

Credit Suisse

As highlighted in this prior post, in 2018 Credit Suisse (a corporation incorporated and domiciled in Switzerland) and a related entity resolved a $77 million DOJ/SEC enforcement action concerning conduct in China and the Asia Pacific region.

Weatherford

As highlighted in this prior post, in 2013 Weatherford (a Swiss corporation with headquarters in Geneva, Switzerland) and related entities resolved a $153 million DOJ/SEC enforcement action concerning conduct in Angola, the Middle East, and in connection with the Iraq Oil for Food program.

Tyco

As highlighted in this prior post, in 2012 Tyco International Ltd. (a manufacturing company based in Switzerland) and related entities resolved an approximate $27 million DOJ/SEC enforcement action concerning conduct  in various countries including China, India, Thailand, Laos, Indonesia, Bosnia, Croatia, Serbia, Slovenia, Slovakia, Iran, Saudi Arabia, Libya, Syria, the United Arab Emirates, Mauritania, Congo, Niger, Madagascar, and Turkey.

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