Takeaways for companies from DOJ’s recent FCPA enforcement actions and guidance

9 minute read

Although the primary regulator for civil and administrative Foreign Corrupt Practices Act (FCPA) cases—the U.S. Securities and Exchange Commission (SEC)—has not updated its corporate enforcement guidance in more than two decades, the U.S. Department of Justice (DOJ) has been issuing new guidance with each new administration for the past 10 years. The Biden administration has been particularly prolific in the guidance it has released. This article addresses two recent guidance announcements and provides some key takeaways for companies in response. We will focus here on two notable announcements: the clawback pilot program and the mergers and acquisitions (M&A) disclosure policy. Recent enforcement actions have started to shed light on how these policies may be applied in practice.

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