FCPA White Paper
Summary
In 2012, DOJ and the SEC brought 25 new Foreign Corrupt Practices
Act ("FCPA") enforcement actions, a significant decrease
from the number of FCPA enforcement actions brought in 2011 (45)
and the prolific 2010 (71). However, there is no reason to suspect
that DOJ and the SEC are losing their zeal for enforcement. Rather,
it is likely that DOJ and the SEC are juggling the approximately
150 open investigations and were distracted by the drafting of
their comprehensive FCPA Resource Guide, which was released in
November 2012, as well as several trials.
Many trends from 2011 continued into 2012, including DOJ's and
the SEC's willingness to reward companies for their swift
voluntary disclosure and ongoing cooperation. In at least one
significant case (U.S. v. Peterson), DOJ and the SEC
declined to bring an enforcement action against the individual
defendant's corporate employer, financial services giant Morgan
Stanley, noting Morgan
