FCPA Deals Under Fresh Scrutiny As Judge Pushes Back

Law360, New York (February 1, 2013, 7:36 PM EST) -- While courts have long rubber-stamped Foreign Corrupt Practice Act settlements, a Washington federal judge is threatening to reverse the trend by blocking two U.S. Securities and Exchange Commission deals in a judicial power play on par with U.S. District Judge Jed Rakoff's now-infamous Citigroup decision.

U.S. District Judge Richard Leon has emerged as a thorn in the SEC’s side, refusing to approve its $10 million settlement with IBM Corp. and $13 million settlement with Tyco International Ltd. Most FCPA settlements are approved quickly, but the IBM...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.