Top Menu

Scrutiny Alert And Fact-Checking


Scrutiny Alert

Panasonic Corporation recently disclosed: “the business operations of its U.S. subsidiary Panasonic Avionics Corporation are the subject of an investigation by the United States Department of Justice (DOJ) and the United States Securities and Exchange Commission (SEC) under the Foreign Corrupt Practices Act and other securities related laws. Panasonic has been cooperating with authorities, and has recently engaged in discussions with the DOJ and SEC with a view towards resolving the matter.”


Why is it so difficult for the Wall Street Journal (and other paid journalists) to accurately describe and cover the FCPA and related topics?

For instance, this recent article regarding the SEC’s individuals charges against former Och-Ziff executives states:

“The SEC claimed their conduct violated the Foreign Corrupt Practices Act, a law that prohibits U.S. firms from bribing overseas officials to influence their decisions.”

This is a false statement.

The FCPA does not just apply to “U.S. firms” and the last clause “from bribing overseas officials to influence their decisions” does not exactly capture the FCPA’s actual elements.

This Law360 article titled “Looming Repeal of SEC Oil & Gas Rules Stokes Bribery Fears” contains the following:

“many of the disclosures that companies would have to make under the SEC’s rule are already required under the Foreign Corrupt Practices Act.”

This is a false statement.

The FCPA does not require any disclosures by companies.


Sticking with the so-called resource extraction disclosure provisions, this headline states “A Rule to Prevent Overseas Oil Bribery is on the GOP Chopping Block.”

This is a false statement.

There is a rule to prevent overseas bribery – it is called the FCPA – and it is not on the chopping block. The referenced rule in the article is a disclosure provision including as to perfectly legal and legitimate payments to foreign governments.


This Paul Weiss FCPA 2016 year in review contains the following graphic. 









The 2016 numbers are false.

In 2016, the DOJ announced or resolved FCPA enforcement actions against 8 individuals.

  • Moises Abraham Millan Escobar
  • Samuel Mebiame
  • Ng Lap Seng and Jeff Yin
  • Daniel Perez, Kamta Ramnarine, Victor Valdez and Douglas Ray

In 2016, 8 individuals resolved SEC FCPA enforcement actions.

  • Ignacio Cueto Plaza
  • Yu Kai Yuan
  • Mikhail Gourevitch
  • Lars Frost
  • Jun Ping Zhang
  • Daniel Och and Joel Frank
  • Karl Zimmer

Many of the historical numbers are false as well.

In short, facts matter, but there are several false and misleading facts about the FCPA and related topics in the public domain.

Free 90 Minute 2017 FCPA Year In Review Video

A summary of every corporate enforcement action; notable statistics and issues to consider; compliance take-away points; and enforcement agency and related developments. Click below to view the engaging video tutorial.


Powered by WordPress. Designed by WooThemes