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FCPA Blog Daily News

Entries in Disgorgement (51)

Saturday
Jan142017

Practice Alert: Supreme Court to decide whether 5-year statute of limitations applies to disgorgement

In a key development of relevance to the FCPA bar, the U.S. Supreme Court Friday accepted cert in Kokesh v. SEC (16-529). The issue presented in the cert petition is: “Whether the five-year statute of limitations in 28 U.S.C. § 2462 applies to claims for 'disgorgement.'”

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Tuesday
Jan032017

The 2016 FCPA Enforcement Index

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.

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Monday
Jan022017

Teva pays second biggest FCPA disgorgement

Teva Pharmaceutical's $519 million enforcement action last month included disgorgement to the SEC of $236 million -- the second biggest FCPA disgorgement of all time.

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Monday
Dec192016

Rebecca Gantt: Looking for clues about the future of the Pilot Program

Last April, the DOJ's Criminal Division launched the one-year Pilot Program. The remaining four months of the Pilot Program promise to provide valuable information on several fronts.

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Wednesday
Nov302016

Daniel Patrick Wendt: So how does the DOJ calculate disgorgement?

In the prior post I talked about how, after nearly 40 years of FCPA history, the DOJ first used disgorgement as a remedy, including it this year in two declinations under the Pilot Program.

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Monday
Nov282016

Daniel Patrick Wendt: Are those DOJ disgorgements really disgorgement?

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. 

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Wednesday
Nov232016

JPMorgan lands on the FCPA Top Ten Disgorgement List

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.

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Saturday
Oct292016

Fox and Rosen: What went down in New York City

In their latest podcast, Tom Fox and Jay Rosen talk about Wednesday's FCPA Blog NYC Conference.

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Friday
Oct282016

Och-Ziff and Embraer join our Top Ten Disgorgement List

Two recent enforcement actions included disgorgements to the SEC that are among the ten biggest FCPA disgorgments of all time.

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Friday
Sep302016

DOJ breaks new ground with two ‘declinations with disgorgement’

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.

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Monday
Aug152016

What's behind Key Energy's ‘disgorgement-only’ settlement?

Key Energy Services, Inc. resolved an SEC enforcement action Friday by disgorging $5 million but not paying any other penalties.

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Monday
Jun132016

IRS Advice Memo: Is every FCPA disgorgement punitive and not deductible?

The IRS recently released an internal Chief Counsel Advice Memorandum that said Section 162(f) of the Tax Code prohibited an FCPA defendant from deducting the disgorged amount. 

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