2018 has shown that expectations may be needless when they apply to FCPA cases. Last year we wrote a brief note on the TOP 10 FCPA cases in 2017 and noted that we should not expect something like this next, 2018 year. And we were wrong…
Last year, the number of fines for companies from the TOP 10 rating was more than $2.8 billion. So, this amount is significantly lower compared to 2016 and $7.2 billion. But, at the same time, this amount is almost 50% higher compared with 2017. Unexpectedly, 2018 has risen above 2017 in FCPA rankings over the years.
Top 10 FCPA enforcement cases of 2018
|
Company |
Total fine, mUSD |
DOJ |
SEC |
Other US |
Other countries |
|
|---|---|---|---|---|---|---|
| 1 | Petróleo Brasileiro S.A. – Petrobras | 1 786 | 85,3 | 1018 | 0 | 682,6 |
| 2 | Société Générale S.A. (Société Générale) | 586 | 293 | 0 | 0 | 293 |
| 3 | Panasonic Avionics Corporation (PAC) | 137 | 137,4 | 0 | 0 | 0 |
| 4 | Panasonic Corporation | 143 | 0 | 143 | 0 | 0 |
| 5 | Legg Mason Inc. (Legg Mason) | 68 | 33 | 34,5 | 0 | 0 |
| 6 | Credit Suisse (Hong Kong) Limited (CSHK) | 47 | 47 | 0 | 0 | 0 |
| 7 | Polycom (a wholly-owned subsidiary of Plantronics since July 2018) | 37 | 10,15 | 16,3 | 10,15 | 0 |
| 8 | Credit Suisse Group AG | 30 | 0 | 29,8 | 0 | 0 |
| 9 | Sanofi | 25 | 0 | 25 | 0 | 0 |
| 10 | United Technologies Corporation | 14 | 0 | 13,9 | 0 | 0 |
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More information can be found here.
In 2018 the individual charges were compelling (as well as the previous 2017 year). According to FCPA Blog:
-
4 individuals settled civil FCPA charges brought by the SEC
-
6 pleaded guilty to FCPA-related criminal charges
-
6 were sentenced
-
2 were convicted at trial
-
9 were indicted for FCPA crimes
List of sources:
- www.fcpablog.com/blog/2019/1/2/2018-fcpa-enforcement-index.html
- www.justice.gov/opa/pr/petr-leo-brasileiro-sa-petrobras-agrees-pay-more-850-million-fcpa-violations
- www.justice.gov/opa/pr/soci-t-g-n-rale-sa-agrees-pay-860-million-criminal-penalties-bribing-gaddafi-era-libyan
- www.justice.gov/opa/pr/panasonic-avionics-corporation-agrees-pay-137-million-resolve-foreign-corrupt-practices-act
- www.justice.gov/opa/pr/legg-mason-inc-agrees-pay-64-million-criminal-penalties-and-disgorgement-resolve-fcpa-charges
- www.justice.gov/opa/pr/credit-suisse-s-investment-bank-hong-kong-agrees-pay-47-million-criminal-penalty-corrupt
- www.justice.gov/criminal-fraud/file/1122966/download
- www.sec.gov/news/press-release/2018-73
- www.sec.gov/news/press-release/2018-128
- www.sec.gov/news/press-release/2018-174
- www.sec.gov/news/press-release/2018-188