Even during this difficult time of the pandemic, economic uncertainty and social unrest, the Justice Department and the SEC have concluded a major FCPA enforcement action.
Novartis and Alcon (which was a Novartis subsidiary at the time of the misconduct) agreed to pay a total of $345 million in criminal and civil penalties. Novartis spun off Alcon in 2019.
Under the DOJ settlement, Novartis and Alcon each entered into a deferred prosecution agreement; Novartis agreed to See more +
Even during this difficult time of the pandemic, economic uncertainty and social unrest, the Justice Department and the SEC have concluded a major FCPA enforcement action.
Novartis and Alcon (which was a Novartis subsidiary at the time of the misconduct) agreed to pay a total of $345 million in criminal and civil penalties. Novartis spun off Alcon in 2019.
Under the DOJ settlement, Novartis and Alcon each entered into a deferred prosecution agreement; Novartis agreed to pay a fine of $225 million and Alcon agreed to pay $8.9 million in criminal penalties. Novartis also entered into a settlement with the SEC under which they agreed to pay a total of $112 million.
In this Episode, Michael Volkov reviews the FCPA settlement and the lessons learned. See less -
