FCPA Corporate Settlements by the Numbers: TRACE Looks Back at 2013 Reply

It’s been a year of extremes in the world of the Foreign Corrupt Practices Act.  After getting off to a slow start, with no official corporate FCPA settlements announced in the first quarter, 2013 witnessed two of the top ten biggest settlements of all time.  And while the total number of settlements reached this year actually went down from 2012, the total amount of penalties nearly tripled.  What conclusions, then, can we reach about enforcement in 2013?  Trend-wise, is FCPA enforcement increasing or decreasing?

It’s worth pointing out that even seemingly objective numerical statistics, like how many settlements were concluded in 2013, are subject to honest debate.  Should we, for example, count the IBM settlement approved by a Federal Judge this past July, even though it was initially agreed to by the parties way back in 2011?   What about the SEC’s March settlement with Keyuan Petrochemicals Inc., which dealt only partially with FCPA violations but otherwise dealt with criminal fraud?  Even the SEC has been inconsistent here, publishing in its year-end review that it concluded only 5 FCPA settlements this year, and elsewhere, on its website, listing two more FCPA settlements for 2013.

Without any generally accepted method for calculating these enforcement statistics, reasonable minds are likely to disagree as to what should or shouldn’t count towards end-of the year tabulations.  Some will use enforcement numbers this year to argue that this was one of the weakest years in FCPA enforcement.  Others will say the exact opposite.  Both will be right.   What’s certainly true is that 2013 was a year of variation, with plenty of interesting lessons to be drawn. More…

Day 9: Ask Us Your Compliance Questions During a Complimentary One-Hour Consultation Reply

Offer: 1 Hour Complimentary Consultation with a TRACE Attorney

This offer is limited to the first 5 respondents.

Day 9-TRACE Holiday Promo-ConsultationTRACE is pleased to offer the compliance community a FREE one-hour consultation with a TRACE attorney. Our attorneys will work with you to develop compliance solutions that are appropriate for your organization’s size, industry, geographic footprint and culture. Our anti-bribery consulting and advisory services cover a wide range of anti-bribery issues, including, but not limited to, acquisition due diligence, compliance program design and implementation and risk assessment.

Take this opportunity to ask us your specific compliance questions or to simply learn more about industry best practices. Our business-friendly and practical approach is sure to make the call worthwhile!

About the TRACE Team

The TRACE team has unparalleled qualifications and experience in the compliance community. Our compliance experts studied at internationally renowned universities and joined TRACE after significant law firm experience and leadership roles on in-house compliance teams at Fortune 100 companies. Our in-depth expertise in anti-bribery programs and commitment to delivering practical and cost-effective solutions provides the support that companies need to meet international anti-bribery compliance standards.

This offer is non-transferable, restricted to companies only and may not be redeemed by law firms or vendors. 

To accept this offer, please write to info@traceinternational.org. This offer is limited to the first 5 respondents. Consultations must be scheduled prior to December 1, 2014.

Day 8: Customized In-Person Training With a TRACE Senior Attorney

Offer: 4 Hours of In-Person Training with a TRACE Senior Attorney

This offer is limited to the first 3 respondents.

Large business meetingTRACE is going to send one of its experienced, senior attorneys to your office for a half day of in-person training as part of our 10 Days of Giving celebration! The first three respondents will receive a customized in-person training session with a comprehensive presentation on anti-bribery law and international compliance best practices.

About TRACE In-Person Training

TRACE offers tailored, anti-bribery in-person training based on years of experience providing training to multinational companies, SMEs, and government bodies. TRACE also offers “train the trainer” sessions for companies interested in developing in-house training capabilities.

  • Training is cost-effective, comprehensive and dynamic and conducted by a skilled senior TRACE attorney.
  • Trainers bring unparalleled on-the-ground experience to every training session.
  • Senior TRACE attorneys work with you to customize the training and supplemental materials.
  • A comprehensive presentation deck, which includes a thorough overview of all applicable anti-bribery laws, international compliance best practices, detailed case studies and company policies and procedures, is provided to all participants in advance of the session.
  • Training is available in multiple languages.

Learn more about TRACE’s training options at www.traceinternational.org/Training.html.

This offer is non-transferable, restricted to companies only and may not be redeemed by law firms or vendors. 

To accept this offer, please write to info@traceinternational.org. This offer is limited to the first 3 respondents. Offer recipients are responsible for travel expenses, if any. Training sessions must be scheduled prior to December 1, 2014.

Day 7: Enroll in TRACE’s Anti-Bribery Specialist Accreditation Program With Up to 100% Off Your Application

Offer: A Tiered Discount on Your TASA Application

This offer is limited to the first 10 respondents.

Contemporary architectureWe are pleased to offer the global anti-bribery compliance community the opportunity to receive a discount on an application to the TRACE Anti-Bribery Specialist Accreditation (TASA) program. Be the FIRST to respond and receive a FULL discount on your TASA application (a $2,200 value). Subsequent respondents to this offer (up to 10) will receive a $500 discount on a TASA application.

The TRACE Anti-Bribery Specialist Accreditation (TASA) program was established in 2011 to further the TRACE mission of raising the standard of anti-bribery compliance worldwide. The program is built with a focus on providing the most comprehensive, high-quality and easily accessible anti-bribery education in the market. TASA is committed to building subject matter experts in the field of anti-bribery compliance and to preparing the next generation of compliance professionals to advance commercial transparency and lead compliance programs. TASA graduates add value to organizations that are serious about maintaining a culture of compliance as they are capable, confident and equipped to deal with a myriad of anti-bribery issues.

About TASA

The TRACE Anti-Bribery Specialist Accreditation is a comprehensive and rigorous training and certification program that offers a professional credential for anti-bribery compliance specialists. TASA enables professionals working in this growing field to distinguish themselves with demonstrated expertise and credibility. The TASA accreditation program is the only certification available that is dedicated to anti-bribery compliance and offers over 100 courses taught by a world-renowned faculty. The accreditation is awarded by TRACE, the internationally recognized anti-bribery standard-setting organization.

To learn more about TASA write to info@theTASA.org and visit www.theTASA.org.

TASA has a new, easy-to-use application form! Visit https://www.thetasa.org/apply_for_accreditation.html to apply online.

To accept this offer, please write to info@theTASA.org. This offer is limited to the first 10 respondents.

The first respondent will receive a full discount on a TASA application. The next 9 respondents will receive a $500 discount on a TASA application. Associate TASA applications are not eligible to redeem this offer. Offer recipients must enroll in the TASA program and begin taking courses prior to December 1, 2014.