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Distilling DPAs, NPAs for Lessons in Effective Compliance Programs

Jaclyn Jaeger | August 19, 2014

Since 2000, the Justice Department and SEC have entered into 290 publicly disclosed DPAs or NPAs, according to a recent analysis from law firm Gibson Dunn. Over that period, DPAs and NPAs have netted the government more than $42 billion in penalties and recoveries.

The start of 2014 alone saw monetary penalties of nearly $3.6 billion arising from 12 prosecution agreements: seven DPAs and five NPAs, including one negotiated solely by the SEC. This year’s monetary penalties already exceed the 2013 total of $2.9 billion. Furthermore, the analysis did not include the latest DPA and $86 million penalty Lloyds Banking Group reached July 28 with the Justice Department to resolve acts of false reporting and attempted manipulation of the London Interbank Offered Rate (LIBOR).

That’s a lot of FCPA enforcement action. So what have we learned?

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