ANTICORRUPTION DEVELOPMENTS –

DOJ Issues First-Ever Declinations Requiring Disgorgement of Profits to Resolve FCPA Violations -

On September 29, 2016, the Department of Justice (DOJ) for the first time announced declinations for two privately held companies while also requiring the companies to disgorge all profits attributable to their violations of the Foreign Corrupt Practices Act (FCPA). The DOJ stated that this new means for resolving cases is a result of the DOJ’s FCPA Pilot Program announced in April 2016. Although, earlier this year, the DOJ announced declinations for three public companies that had previously disgorged their tainted profits to the Securities and Exchange Commission (SEC), the DOJ has not previously required disgorgement in connection with its own declinations.