It is a thorny question with no easy answer. Where should the money go when a company resolves an FCPA enforcement action? It was addressed last year in connection with the Alcatel-Lucent enforcement action. Two recent events raise the issue again.
Does a but-for analysis have a place in bribery laws – in other words should the enforcement agency have to prove that but for the improper payment, the company would not have secured the contract at issue? Mike Koehler explores the issue.
Sasha Kalb and Marc Bohn of Miller & Chevalier provide an in-depth examination of the SEC’s application of disgorgement – the remedy used to deprive wrong-doers of their ill-gotten gains and deter violations of federal securities law – in FCPA resolutions.