Wall Street Journal: Cooperation in Foreign-Bribery Cases

Cross-border cooperation on enforcing foreign bribery laws is on the rise as other countries join US efforts. “U.S. authorities resolved 17 corporate cases of Foreign Corrupt Practices Act violations in 2018, matching the average amount struck over the past 10 years,” reports Samuel Rubenfeld for the Wall Street Journal. “Three cases settled last year, with Brazil’s Petróleo Brasiliero SA, French bank Société Générale SA and Panasonic Avionics Corp., accounted for more than 90% of the total corporate penalties assessed in 2018, Shearman & Sterling found.” The cooperation means that other countries can collect a share in settlements and penalties. The regulations and cases are complex, and corporate officials should use caution. – YaleGlobal