Last year was a record-breaking year in terms of Foreign Corrupt Practices Act settlement amounts as the DOJ/SEC collected approximately $2.65 billion.
With this week’s record-setting $1.66 billion net FCPA settlement involving Goldman Sachs, 2020 has eclipsed 2019 as the DOJ/SEC are poised to collect $2.66 billion in FCPA settlement amounts. This amount is likely to grow with approximately two months left in 2020 as the end of the year historically is an active period for FCPA enforcement.
Granted, the $1.66 billion Goldman matter and the $347 million Novartis matter (see here for the prior post) account for approximately 75% of the overall $2.66 billion figure. But then again, as the below chart demonstrates in most prior years just a few enforcement actions shape overall FCPA enforcement statistics.
The below chart provides a summary of corporate FCPA enforcement data (DOJ and SEC combined) for the years 2007-2020 (YTD), as well as notable circumstances that significantly shaped enforcement data statistics for particular years.
Corporate FCPA Enforcement Actions (2007 – 2020)* After accounting for certain credits or deductions in several enforcement actions involving foreign companies and/or related foreign law enforcement actions.
|Year||Core Actions||Settlement Amounts*||Of Note|
|2020 (YTD)||10||$2.66 billion||Two enforcement actions (Goldman and Novartis) comprise approximately 75% of the $2.66 billion amount|
|2019||14||$2.65 billion||Two enforcement actions (Ericsson and MTS) comprise approximately 70% of the $2.65 billion amount|
|2018||17||$1 billion||Three enforcement actions (Panasonic, Societe General and Petrobras) comprised approximately 75% of the $1 billion amount.|
|2017||13||$1.1 billion||Two enforcement actions (Telia and SBM Offshore) comprised approximately 65% of the $1.13 billion amount and four enforcement actions (the two mentioned above plus Rolls-Royce and Keppel Offshore & Marine) comprised approximately 88% of the amount.|
|2016||27||$2.4 billion||Three enforcement actions (Teva, Odebrecht/Braskem and VimpelCom) comprised approximately 56% of the $2.41 billion amount and five enforcement actions (the three mentioned above plus JP Morgan and Embraer) comprised approximately 72% of the amount.|
|2015||11||$139 million||No enforcement actions significantly skewed the statistics.|
|2014||10||$1.6 billion||Two enforcement actions (Alstom – $772 million and Alcoa – $384 million) comprised approximately 72% of the $1.6 billion amount.|
|2013||9||$720 million||The $398 million Total enforcement action comprised approximately 55% of the $720 million amount.|
|2012||12||$260 million||No enforcement actions significantly skewed the statistics.|
|2011||16||$503 million||The $219 million JGC Corp. enforcement action involved Bonny Island conduct and comprised approximately 44% of the $503 million amount|
|2010||21||$1.4 billion||Six enforcement actions, all resolved on the same day, involved various oil and gas companies’ use of Panalpina in Nigeria. Panalpina also resolved an enforcement action on the same day.
Two enforcement actions (Technip and Eni / Snamprogetti) involved Bonny Island conduct.
In other words, there were 14 unique corporate enforcement actions in 2010. Of further note, the two Bonny Island enforcement actions, Technip($338 million) and Eni/Snamprogetti ($365 million) comprised approximately 50% of the $1.4 billion amount.
|2009||11||$645 million||The $579 million KBR / Halliburton Bonny Island, Nigeria enforcement action comprised approximately 90% of the $645 million amount.|
|2008||10||$885 million||The $800 million Siemens enforcement action comprised approximately 90% of the $885 million amount.|
|2007||15||$149 million||Six enforcement actions involved Iraq Oil for Food conduct and these enforcement actions comprised 40% of all enforcement actions and approximately 50% of the $149 million amount.|
* After accounting for certain credits or deductions in several enforcement actions involving foreign companies and/or related foreign law enforcement actions.