As the fervor to prosecute corruption continues to spread globally, factors involved in investigating, remediating and settling the matters are increasingly complex. Many assume that once the broad terms of settlement are reached with the regulator, finally the long travail is over. Unfortunately, this is wrong. When the costly, disruptive investigation phase ends and the finish line is near, corporate entities settling Foreign Corrupt Practices Act violations with the U.S. Securities and Exchange Commission should consider the possible ancillary remedies and collateral consequences of the settlement.
This article provides an overview of FCPA settlement forms, the ancillary remedies most frequently pursued by the SEC and settlement effects on affiliates of settling companies. Identifying potential ancillary remedies and collateral consequences early in the investigation and settlement stages is essential to ensuring that settlement terms are favorable to not only the settling party, but also to its affiliates.
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