Top Menu

The Largest Civil Monetary Penalties In Corporate FCPA Enforcement Actions


Disgorgement and prejudgment interest comprise the bulk of SEC recovery in corporate FCPA enforcement actions (typically 90% or so of overall recovery in most years).

However, in approximately 40% of corporate FCPA enforcement actions since 2010 the SEC has assessed a civil monetary penalty.

It is often a mystery (or at least not reasonably transparent) why most corporate FCPA enforcement actions by the SEC do not include a civil penalty, but some do.

In addition, it is often a mystery (or at least not reasonably transparent) how the civil penalties are actually calculated.

The FCPA Guidance (2d Edition) states:

“For violations of the anti-bribery provisions, corporations and other business entities are subject to a civil penalty of up to $21,410 per violation. Individuals, including officers, directors, stockholders, and agents of companies, are similarly subject to a civil penalty of up to $21,410 per violation, which may not be paid by their employer or principal.

For violations of the accounting provisions in district court actions, SEC may obtain a civil penalty not to exceed the greater of (a) the gross amount of the pecuniary gain to the defendant as a result of the violations or (b) a specified dollar limitation. The specified dollar limitations are based on the nature of the violation and potential risk to investors, ranging from $9,639 to $192,768 for an individual and $96,384 to $963,837 for a company. SEC may obtain civil penalties both in actions filed in federal court and in administrative proceedings.”

Regardless of the above issues, set forth below are the Top 25 civil monetary penalties in FCPA actions.

Company Year Amount
1.    Goldman Sachs 2020 $400 million
2.     MTS 2019 $100 million
3.    Credit Suisse 2020 $65 million
4.     BHP Billiton 2015 $25 million
5.     Hitachi 2015 $19 million
6.     ABB 2010 $16.5 million
7.     SQM 2017 $15 million
8.     Halliburton 2017 $14 million
9.     Titan 2005 $13 million
10.     Mondelez International 2017 $13 million
11.     ABB 2004 $10.5 million
12.    Baker Hughes 2007 $10 million
13.    Las Vegas Sands 2016 $9 million
14.    Eli Lilly 2012 $8.7 million
15.   WPP 2020 $8 million
16.   Stryker 2018 $7.8 million
17.   Qualcomm 2016 $7.5 million
18.   Juniper Networks 2019 $6.5 million
19.   Biomet 2017 $6.5 million
20.  Allianz 2012 $5.3 million
21.  Sanofi 2018 $5 million
22. BNY Mellon 2015 $5 million
23. Telefonica Brasil 2019 $4.125 million
24. United Technologies 2018 $4.0 million
25. AB Volvo 2008 $4.0 million

Powered by WordPress. Designed by WooThemes