2016 was certainly one for the FCPA enforcement record books. There were 27 corporate enforcement actions with monetary fines and penalties of nearly $6 billion. This made 2016 the most active year on record. The end of 2016 brought several stunning FCPA enforcement actions including those involving Odebrecht and Teva Pharmaceuticals which largely contributed to this very large penalty amount.
However, there was one in the final week of 2016, involving General Cable Corp. that seemed to me to emphasize the continuity in FCPA compliance and enforcement, both reaching back into the past and portending the future. The General Cable matter was settled with the Justice Department via a non-prosecution agreement (NPA) and the SEC via a cease-and-desist order (General Cable Order). There was also the resolution of a civil charge by the SEC against a former General Cable executive, Karl Zimmer, via a cease-and-desist order (Zimmer Order). I found this case to have aspects from many cases over the past 10 years but also look forward to a different style of FCPA enforcement, following the Justice Department FCPA Pilot Program.
