During the first calendar quarter, there were six corporate FCPA enforcement actions and one individual resolution.
Entries in Declinations (55)
Claims management company Crawford & Company said in its annual report that the Securities and Exchange Commission has finished its FCPA investigation and won't bring an enforcement action against the company.
A reader asked if there have been any FCPA cases involving small bribes -- say under $1 million. The answer is: Yes, lots of them.
Last year 27 companies paid about $2.48 billion to resolve FCPA cases. It was the biggest enforcement year in FCPA history. Both the number of enforcement actions and the overall amounts paid to resolve them were records.
This year the DOJ required disgorgement of ill-gotten gains as a predicate for preferential treatment under the new FCPA enforcement Pilot Program, regardless of whether the participating company was publicly or privately owned.
Last week's $264 million enforcement action against JPMorgan Chase included disgorgement to the SEC of $130.5 million -- the seventh biggest FCPA disgorgement of all time.
Texas-based Lennox International Inc. said in a securities filing Monday that it self reported to the SEC and DOJ an alleged payment of $475 to a Russian customs broker or official.
The Justice Department released letters Thursday under the DOJ's Pilot Program to two Texas companies that won't be prosecuted for violating the FCPA but will each have to disgorge all profits they made from the bribery.