Judge Raises Bar For SEC On FCPA Jurisdiction

Law360, New York (February 20, 2013, 3:21 PM EST) -- The U.S. Securities and Exchange Commission lacks jurisdiction to bring Foreign Corrupt Practices Act claims against foreign nationals who don’t intend for their alleged misconduct to affect U.S. citizens, a New York federal judge ruled Tuesday, tossing claims against a former Siemens AG official.

U.S. District Judge Shira Scheindlin granted Herbert Steffen’s motion to dismiss claims he aided the company’s $100 million bribery scheme. Steffen, a 74-year-old German citizen, served at one point as CEO of Siemens’ Argentine subsidiary, where some of the bribes allegedly took...
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