SEC Whistleblower Lawyer Blog
Both the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are responsible for enforcement of the Foreign Corrupt Practices Act (FCPA). And as this dual-enforcement mechanism suggests, FCPA violators can face criminal and civil penalties, and there are punishments for both the responsible individuals and the entities involved.
For individuals convicted of FCPA violations, penalties can include:
- Up to five years in imprisonment
- Up to $100,000 in criminal penalties
- Up to $10,000 in civil penalties
For entities convicted of FCPA violation, penalties can include:
- Up to $2,000,000 in criminal penalties
- Up to $10,000 in civil penalties
Entities considered “domestic concerns” can be fined up to $2,000,000.
Also, if the penalties are considered “willful violations,” i.e., the violation includes false or misleading statements in FCPA-related reporting requirements, there are additional possible penalties: Individuals can be fined up to $5,000,000 and a prison sentence of up to 20 years, while entities can be fined up to $25,000,000.
A company may also be required to disgorge any profits that it received as a result of the bribery (plus interest), and the company may be barred from contracts or other dealings with the U.S. government.
Understanding the seriousness of the FCPA penalties, it’s clear how important it is to have accomplished securities attorneys if you have any concerns that your organization is running afoul of the FCPA. Silver Law Group and the Law Firm of David R. Chase have many years of experience in these cases. We are here to help you assess the situation and decide on the best course of action. For a free, confidential consultation, email us or call today at (800) 975-4345.