JPMorgan Case Offers Trifecta of Off-the-Rails FCPA Enforcement

The Foreign Corrupt Practices Act has specific elements that must be met in order for there to be a violation.  However, with increasing frequency it appears that the Department of Justice and the Securities and Exchange Commission have transformed FCPA enforcement into a free-for-all corporate ethics statute in which any conduct the enforcement agencies find objectionable is fair game to extract a multi-million dollar settlement from a risk-averse corporation.

A recent example is the $202.6 million FCPA enforcement action against JPMorgan based on alleged improper hiring and internship practices in the Asia-Pacific region The SEC’s administrative order, not subjected … Read more