SAN FRANCISCO — The U.S. Department of Justice on Tuesday launched a pilot program that could significantly reduce the criminal penalties for companies that self-report violations of the Foreign Corrupt Practices Act.
In a six-page letter, the Criminal Division’s fraud section chief, Andrew Weissmann, outlined a plan to offer up to a 50 percent reduction on criminal penalties to companies that voluntarily disclose FCPA violations before any investigation is opened. In cases where an investigation is ongoing, the program could still offer as much as a 25 percent discount to companies that cooperate fully and hand over information on implicated individuals.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]