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ARTICLE · 15 JANUARY 2009

FCPA Compliance Lessons From The Record-Setting Siemens Enforcement Action

Foley & Lardner LLP
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In December 2008, Siemens Aktiengesellschaft (Siemens) agreed to pay $800 million in combined fines and penalties to settle Foreign Corrupt Practices Act (FCPA) charges for engaging in a pattern of bribery the U.S. Department of Justice (DOJ) termed unprecedented in scale and geographic scope.

United StatesCriminal Law
Scott Fredericksen
Scott Fredericksen
Pamela Johnston
Pamela Johnston
David Simon
David Simon
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In December 2008, Siemens Aktiengesellschaft (Siemens) agreed to pay $800 million in combined fines and penalties to settle Foreign Corrupt Practices Act (FCPA) charges for engaging in a pattern of bribery the U.S. Department of Justice (DOJ) termed "unprecedented in scale and geographic scope." The combined fines and penalties against Siemens, a German company with global operations and shares listed on the New York Stock Exchange, are by far the largest ever imposed in an FCPA enforcement action.

The Siemens action, besides being of interest because of the size and scope of the action and the extent of the corruption in the company, teaches some important FCPA compliance lessons, including: (i) the FCPA's broad reach; (ii) the FCPA risks of utilizing third parties; (iii) the importance of a committed "tone at the top" to FCPA compliance; and (iv) the need for more than just a "paper" FCPA compliance program. Resolution of the FCPA charges against Siemens included

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