SHEARMAN & STERLING’S RECENT TRENDS AND PATTERNS IN THE ENFORCEMENT OF THE FOREIGN CORRUPT PRACTICES ACT (FCPA) / FCPA DIGEST
Shearman & Sterling has published the latest issue of its bi-annual FCPA Digest report, highlighting how FCPA enforcement actions have fared in the first half of 2021 amid a change of U.S. administration and enforcement priorities and the lingering impact of the COVID-19 outbreak and its disruption of market and governmental activity.
Among the highlights from the first half of 2021 include:
- a change in presidential administration, coupled with public emphasis by the new Biden administration on increased anti-corruption enforcement;
- two combined DOJ and SEC corporate enforcement actions with total sanctions of approximately $164 million, the lowest amount in a six-month period since 2015;
- several notable updates to private and follow-on litigation claims arising in the aftermath of an FCPA investigation, including restitution claims, securities fraud claims, and RICO claims;
- a record FCPA-related reward issued under the SEC’s whistleblower program in connection with Panasonic’s 2018 bribery resolution with the SEC and DOJ;
- a number of individual indictments that allege misconduct under the FCPA, but the charges filed against the individuals involved are limited to conspiracy to commit money laundering counts; and
- a slowdown of publicly announced corruption investigations and charges by the SFO in the U.K., with the last such announcement in November 2020.
Our latest report explores continuing and developing trends and patterns in the U.S. and elsewhere, as well as helpful guidance on emerging best practices in FCPA and global anti-corruption compliance programs.
Special thanks to associate Joseph Ptomey who contributed to this publication.
Read Shearman & Sterling’s Recent Trends and Patterns in the Enforcement of the Foreign Corrupt Practices Act (FCPA) / FCPA Digest, July 2021.