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JPMorgan - A Trifecta of Off-the-Rails FCPA Enforcement

12 Bloomberg Law White Collar Crime Report 201

8 Pages Posted: 8 Mar 2017  

Mike Koehler

Southern Illinois University School of Law

Date Written: March 3, 2017

Abstract

The Foreign Corrupt Practices Act has specific elements that must be met in order for there to be a violation. However, with increasing frequency it appears that the Department of Justice and Securities and Exchange Commission have transformed FCPA enforcement into a free-for-all corporate ethics statute in which any conduct the enforcement agencies find objectionable is fair game to extract a multi-million dollar settlement from a risk-averse corporation.

An example is the $202.6 million FCPA enforcement action against JPMorgan Chase & Co. based on alleged improper hiring and internship practices in the Asia-Pacific region. After discussing the main features of the problematic enforcement action, this article highlights why the SEC’s enforcement action finding violations of the FCPA’s anti-bribery, books and records and internal controls provisions represents a trifecta of off-the-rails FCPA enforcement and why anyone who values the rule of law should be alarmed.

Keywords: FCPA, Foreign Corrupt Practices Act

Suggested Citation

Koehler, Mike, JPMorgan - A Trifecta of Off-the-Rails FCPA Enforcement (March 3, 2017). 12 Bloomberg Law White Collar Crime Report 201. Available at SSRN: https://ssrn.com/abstract=2927327

Mike Koehler (Contact Author)

Southern Illinois University School of Law ( email )

1150 Douglas Drive
Carbondale, IL 62901-6804
United States

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