FCPA 2016 Year In Review

INTRODUCTION

In 2016, a year after the sharp decrease in both the number and size of corporate FCPA resolutions, the DOJ's and SEC's enforcement activity rebounded, as reflected by a record number of corporate FCPA resolutions and the collection of a record $2.43 billion in total fines and penalties. This banner year was driven by the resolution of several multijurisdictional corruption investigations, including the largest global corruption case in history.

There were six other key highlights from 2016 FCPA enforcement:

• The DOJ announced only one enforcement action against an individual in connection with its 11 corporate resolutions, notwithstanding the issuance of the Yates Memo in September 2015. The SEC, meanwhile, settled eight individual enforcement actions, all of which were against current or former employees of a company that entered into a related corporate FCPA resolution with the SEC.