As we look back on the anti-corruption enforcement trends we saw in 2023, there were several key developments.
- The Department of Justice (“DOJ”) brought 11 enforcement actions in 2023. Only six were against companies - Telefonaktiebolaget LM Ericsson, Corporacion Financiera Colombiana SA, Tysers Insurance Brokers Limited, H.W. Wood Limited, Albemarle Corporation, and Freepoint Commodities LLC.
- The Securities and Exchange Commission (“SEC”) brought 9 enforcement actions in 2023 against Rio Tinto plc, Flutter Entertainment plc, Franks International N.V., Koninklijke Philips N.V., Gartner, Inc., Grupo Aval (associated with Corporacion Financiera Colombiana SA), 3M Company, Clear Channel Outdoor Holdings, Inc., and Albemarle Corporation.
- Settlements with companies in 2023 were more than $500 million, with Albemarle’s settlement with the DOJ and SEC topping the list. This was a decrease over sanctions in 2022.
- As we discussed in our March blog post, “U.S. Attorneys’ Offices Implement New Voluntary Self-Disclosure Policy,” the DOJ’s United States Attorneys’ Offices announced a Voluntary Self-Disclosure Policy, which created a standard for how voluntary self-disclosures are defined and credited.
- The DOJ issued two Opinion Procedure releases in 2023. The first focused on payment of expenses for government officials traveling to the U.S. for completing post-adoption supervision. The second involved the payment of stipends to foreign officials for attending training events.
As we discussed in our February 2023 blog post, Assistant Attorney General Kenneth Polite began the year in January of 2023 promising that there would be more enforcement actions and convictions in 2023. He called on companies to work with law enforcement in its fight against crime and to invest in the compliance function. In November of 2023, Assistant Attorney General Nicole M. Argentieri echoed his sentiments and highlighted the importance and benefits of cooperation with the government. She emphasized the DOJ’s intent to continue to work collaboratively with both domestic and foreign partners in prosecuting corruption. In 2024, we expect to see a continued focus by the government on updating and implementing new policies and on working with other agencies to identify and prosecute corruption. We will continue to monitor emerging anti-corruption trends throughout 2024.
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