Report: SEC and DOJ Took 'Inverse' Approaches to FCPA Enforcement in 2015
The U.S. Department of Justice sought to hold individuals accountable, while the U.S. Securities and Exchange Commission mostly wielded the anti-bribery statute against corporations.
January 05, 2016 at 02:03 PM
3 minute read
The original version of this story was published on Corporate Counsel
The two federal agencies tasked with enforcing the Foreign Corrupt Practices Act took very different approaches in 2015, according to a report released on Monday. The U.S. Department of Justice sought to hold individuals accountable, while the U.S. Securities and Exchange Commission mostly wielded the anti-bribery statute against corporations.
In its 2015 year-end FCPA update, Gibson, Dunn & Crutcher reported that the DOJ and the SEC each brought 10 enforcement actions under the FCPA last year. That's a notable drop from 2014, when the agencies brought a combined 26 enforcement actions. The dual enforcers brought a combined 27 actions in 2013.
Gibson Dunn notes that individual defendants made up 80 percent of the DOJ's FCPA docket in 2015. And whenever the DOJ brought enforcement actions against corporations last year, it also prosecuted individual officers of those companies.
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