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SEC Reports First FCPA Enforcement Statistics



The SEC has announced a record of 735 enforcement actions filed in fiscal year 2011 in total. In addition, since the formation of its Foreign Corrupt Practices Act Unit in 2009 to enforce the law which prohibits bribing foreign officials for business purposes, the SEC recorded its first 20 FCPA enforcement actions in the fiscal year.

These enforcement statistics come in light of Assistant Attorney General Lanny Breuer's announcement that DOJ's criminal division will "release detailed new guidance on the Act's criminal and civil enforcement provisions." There are many however, like Cato Institute's Walter Olson, who make the case that "clarification is not enough" advocating wider reform or even repeal.

Year-by-year SEC enforcement action statistics can be found here.

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Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute
igorodetski@manhattan-institute.org

Katherine Lazarski
Press Officer,
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.