In the FCPA arena, as most compliance practitioners are aware, Pfizer settled is FCPA enforcement action this week. In its settlement Pfizer paid $15 million in criminal penalties to the Department of Justice (DOJ) and $45.2 million in disgorgement and pre-judgment interest to the Securities and Exchange Commission (SEC). While the total settlement did not put Pfizer on the coveted ‘Top 10 FCPA Settlements of All-Time’ list, Pfizer did land on the FCPA Blog’s ‘Top Ten Disgorgement’ list. A special kudos goes to the FCPA Professor for his exhaustive review, over two separate blog postings, of the Criminal Information, Deferred Prosecution Agreement (DPA), SEC Civil Complaint and the DOJ and SEC Press Releases.
The DPA had some very interesting new wrinkles regarding the compliance regime that Pfizer agreed to institute. They were all called “enhanced compliance obligations” and were included in three supplemental attachments to the standard Attachment C, of the DPA. They were monikered Attachments C.1, C.2 and C.3. I have set out below the obligations that Pfizer agreed to in Attachment C.1.
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