The Foreign Corrupt Practices Act Clearinghouse (FCPAC) operates as a database, a repository of original source documents, and a supplier of analytics, providing users with detailed information relating to enforcement of the Foreign Corrupt Practices Act (FCPA).
The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) have charged hundreds of companies and individuals with FCPA violations and imposed billions of dollars in monetary sanctions since the statute's enactment in 1977. U.S. authorities have intensified their efforts to abate corruption by increasing personnel, collaborating more closely with foreign governments and agencies, and offering mitigation credit to companies that self-disclose FCPA violations and cooperate with the government's investigation.
The goal of the FCPAC is to provide investors, policymakers, scholars, judges, lawyers, the media, and the public at large with a comprehensive website for all things FCPA-related. Users can review relevant laws, read articles about FCPA compliance and enforcement, and view, search, and sort data about FCPA investigations and enforcement actions according to their individual needs and interests.
The FCPAC is composed of a number of unique but interconnected datasets: FCPA Matters, Enforcement Actions, Investigations, and Entities. Information can be organized and presented in a number of different ways across each of these datasets.
An FCPA Matter is a group of one or more related Investigations and/or Enforcement Actions that share a common time period and bribery scheme. By way of example, SEC and DOJ investigations of Company A, a DOJ enforcement action against Company B (a foreign subsidiary of Company A), and a DOJ enforcement action against Individual C (an employee of Company A) may be consolidated into a single FCPA Matter if all Investigations and Enforcement Actions are predicated on a common bribery scheme conducted over the same general time period. Investigations and Enforcement Actions against unaffiliated entities may also be consolidated into a single FCPA Matter if all entities participated in a coordinated bribery scheme. An FCPA Matter may consist of a single Investigation or Enforcement Action if there are no other Investigations or Enforcement Actions that satisfy the above-referenced criteria.
FCPA Matters are identified in the database according to a name that includes one or more of the following data points: the name of the common entity, the country where bribes were paid, and the time period of the challenged activity. Organizing data by FPCA Matters allows users to understand the full scope of a common bribery scheme, and to assess the consequences of that scheme to a particular entity or set of entities.
An Enforcement Action is a proceeding that is brought by the SEC, the DOJ or both against individuals or entities based on violations of the FCPA or FCPA-related misconduct. If a proceeding raises FCPA-related claims, but does not allege a violation of the FCPA itself, the proceeding will generally be included in the database only if the SEC or DOJ lists the proceeding as an FCPA-related enforcement action on its website, or if the proceeding is directly related to an FCPA Enforcement Action. Proceedings that are FCPA-related but that do not allege violations of the FCPA may be excluded from some statistics and analytics.
An Enforcement Action is not necessarily predicated on the filing of an official charging document. An Enforcement Action might be instituted in district court, an administrative court, or resolved entirely out of court through, for example, a Non-Prosecution Agreement. A proceeding against multiple defendants under the same court docket or administrative file number is treated as a single Enforcement Action in the database. Conversely, proceedings that are filed under different court docket or administrative file numbers, or that are prosecuted by different government agencies working independently, are treated as separate Enforcement Actions in the database. By way of example, if both the SEC and DOJ file charges against the same entity in two separate complaints under two separate court docket numbers, two separate Enforcement Actions are recorded in the database.
There are many ways to define an FCPA proceeding and to count the number of proceedings that are filed each year. Counting by Enforcement Action is one option among many. The FCPAC does not advocate one counting methodology over another, but instead tries to present the data in a number of different ways so that users can make their own informed judgments.
The Enforcement Actions dataset includes detailed information about each Enforcement Action, including the name of the defendants, the nature and scope of the bribery, the claims at issue, the resolution, and any monetary or non-monetary sanctions imposed.
An Investigation is an inquiry conducted by a company, the SEC, the DOJ, and/or unspecified “US Authorities” into potential FCPA violations by a company or its affiliates, subsidiaries or joint ventures. A single Investigation could thus consist of three connected investigations – one by the company and two by the U.S. government. Investigations that are conducted exclusively by foreign agencies are excluded from the database, even if the conduct might be considered FCPA-related.
In some instances, two or more companies may be investigated for the same bribery scheme. This could happen if two companies disclose information about an investigation in succession, for example a predecessor and successor company that are both subjects of the investigation, or if two companies disclose information about an investigation concurrently, for example where one company splits into two during the course of an investigation. In both situations, the two company investigations are treated as a single Investigation record in the database, although SEC and DOJ investigations may be counted separately for purposes of some analytics.
Only investigations that are publicly disclosed by a company or confirmed by company representatives or the investigating agency are included in the database. Press reports that are speculative or based on anonymous sources are not sufficient to confirm the existence of an investigation.
Information about investigations is generally disclosed in a company's annual, quarterly, and interim reports filed with the SEC. Information about investigations may also be gleaned from company or government press releases or, in certain instances, from news reports. Because private companies are not generally obligated to file reports with the SEC, investigations into private companies may not be publicly disclosed or captured in this database.
The Investigations dataset includes detailed information about the companies subject to an investigation, the nature and scope of the investigation, the parties and agencies conducting the investigation, and the investigation's resolution.
An Entity is a company-defendant or other company related to an Enforcement Action or Investigation. Entities related to an Enforcement Action may include the companies charged with FCPA violations, the companies that settle with the government (even if no charges are filed), the companies that are sanctioned for FCPA violations, parent and successor companies of FCPA violators, the offending predecessors, and the employers of individuals who are charged with FCPA violations. Entities related to an Investigation include the companies subject to the investigation as well as the companies that publicly disclose information about the investigation in their SEC filings and press releases.
Although information about all relevant companies is captured and stored in the FCPAC database, the Entities dataset organizes and presents data by entity group. As a matter of general practice, we do not independently research a company's organizational structure. Instead, we rely on the structure that exists at the time of the misconduct and ensuing investigation as indicated by the relevant investigation, charging, and settlement documents. By way of example, if the DOJ charges Company A with FCPA violations based on the misconduct of Subsidiary A-1, and the charging documents indicate that Company B purchased Subsidiary A-1 and changed its name to Subsidiary B-1 during the scope of the FCPA-related investigation, then the Entities dataset would organize and present data for two entity groups – Company A (including Subsidiary A-1) and Company B (including Subsidiary B-1).
The Entities dataset provides detailed information about entity groups and identifies the Investigations, Enforcement Actions, and FCPA Matters to which each entity group is related, as well as the total sanctions imposed on the entity group.
We track all FCPA-related enforcement actions initiated by the SEC or DOJ since the statute's enactment in 1977. We also track all publicly disclosed and confirmed investigations into FCPA-related misconduct that are conducted internally by the company and/or externally by the SEC, DOJ or unspecified "US Authorities."
Our researchers gather and analyze complaints, criminal informations, indictments, settlement agreements, plea agreements and other litigation-related documents that are published on the SEC and DOJ websites, as well as on the Public Access to Court Electronic Records (PACER) service. We also extract information from company reports filed with the SEC, press releases, news articles, academic articles, and other publicly available sources. We are constantly fine-tuning our data gathering methodologies to ensure that we are capturing and publishing the best available data.
Because we rely entirely on publicly available sources, the breadth and accuracy of our data is necessarily limited to information that is disclosed in those sources. Information that is filed under seal or that is otherwise unavailable on PACER, the SEC's Electronic Data Gathering, Analysis, and Retrieval system (EDGAR), or other public servers will not be captured in the database. Information in company filings and press releases may be incomplete, one-sided, and self-serving. Moreover, we often rely on information disclosed in negotiated settlement documents and plea agreements that may not present a complete picture of the facts and circumstances surrounding the misconduct or investigation, including the defendant's cooperation (or lack thereof), or the voluntary remedial measures undertaken by the defendant.
Data about FCPA investigations is also limited by the dearth of electronic filings in the early years of FCPA enforcement. In 1996, all U.S. public companies were required to file documents electronically on EDGAR, subject to a few exceptions. Foreign companies were not required to file electronically on EDGAR until November 2002.
If you have publicly available information about an ongoing investigation that is not currently included in the FCPAC database, please contact fcpac@law.stanford.edu.
The Foreign Corrupt Practices Act of 1977, as amended, 15 U.S.C. §§ 78dd-1, et seq., consists of two parts: the anti-bribery provisions and the accounting provisions.
The anti-bribery provisions prohibit the corrupt offer, payment, or promise of payment of money or anything of value to a foreign official in order to obtain or retain business. Since 1977, the anti-bribery provisions of the FCPA have applied to all U.S. persons and certain foreign issuers of securities. With the enactment of certain amendments in 1998, the anti-bribery provisions of the FCPA now also apply to foreign firms and persons who, while in the territory of the United States, do an act in furtherance of a corrupt payment.
The FCPA's accounting provisions, which were designed to operate in tandem with the anti-bribery provisions, require issuers to (a) make and keep books and records that accurately and fairly reflect the transactions of the corporation and (b) devise and maintain an adequate system of internal accounting controls.
The FCPA includes an anti-bribery component, a books and records component, and an internal controls component. The anti-bribery provisions of the FCPA prohibit the corrupt offer, payment, or promise of payment of money or anything of value to a foreign official in order to obtain or retain business. Since 1977, the anti-bribery provisions of the FCPA have applied to all U.S. persons and certain foreign issuers of securities. With the enactment of certain amendments in 1998, the anti-bribery provisions of the FCPA now also apply to foreign firms and persons who cause an act in furtherance of a corrupt payment to take place within the territory of the United States.
Yes, most documents that are posted on the site can be downloaded and printed for free. However, we do not have the resources to mail or fax paper copies of documents to users.
We do provide Excel spreadsheets to academic researchers who would like to use the underlying FCPAC data for non-commercial empirical research and/or analysis. Data is provided pursuant to a Non-Disclosure Agreement. Use of the data is subject to the Terms of Service, which prohibits, among other things, use of the data for commercial purposes, unauthorized reproduction of data, as well as use of scraping tools or webcrawlers to access, process and/or index the data. If you are an academic researcher and you would like to access FCPAC data for your non-commercial research purposes, please contact the FCPAC Content Manager at fcpac@law.stanford.edu.
Data in the FCPAC may be updated on a daily, weekly, or monthly basis, depending on the level of activity.
No. While we will answer general questions related to the nature, scope, and operation of the FCPAC, we are not able to provide any legal advice.
You can find a wealth of information about the FCPA, including guidance, speeches, DOJ and SEC policy updates, and blog posts on the Related Sites tab in the Resources section of the FCPAC website. You can also find quarterly and annual reports authored by the FCPAC team and FCPA-related academic articles on the Resources page. Analysis and reports related to FCPA enforcement activity are also available on the Sullivan & Cromwell publications page.
Unfortunately, we cannot remove or de-index documents containing your name/your client’s name that are posted on the Foreign Corrupt Practices Act Clearinghouse (FCPAC) website. The FCPAC operates as a public repository of court documents, company filings, and press releases. The goal of the FCPAC is to make information about FCPA-related investigations and enforcement actions available to scholars, judges, lawyers, investors, policymakers and the media. While we understand your/your client’s interest in anonymity, all information and documents in the FCPAC are pulled from publicly available sources and form part of the historical record for a particular case.
Moreover, if we remove/de-index documents containing your name/your client’s name, we will have to remove thousands of public documents referencing the names of other parties (plaintiffs or defendants). Doing so would raise serious questions about the integrity of the FCPAC. Finally, removing or de-indexing documents from the FCPAC would not remove information about you/your client from the public record. This information would remain broadly available through other sources.
This project is made possible only through the vision and generosity of Sullivan & Cromwell LLP and the Arthur and Toni Rembe Rock Center for Corporate Governance.
Sullivan & Cromwell LLP has more than 800 lawyers on four continents, with four offices in the United States, including its headquarters in New York, four offices in Europe, two in Australia and three in Asia.
Sullivan & Cromwell LLP provides valuable financial and analytic support for this website.
The The Arthur and Toni Rembe Rock Center for Corporate Governance (the Stanford Rock Center) was created to advance the understanding and practice of corporate governance in a cross-disciplinary environment where leading academics, business leaders, policy makers, practitioners and regulators can meet and work together.
Stanford Rock Center provides financial, analytic and management support for this website.
Sign-up to create an account and access all features of the FCPAC website
Please sign up to access restricted features of the FCPAC website, including the Advanced Search form, full case pages, case initiation and resolution documents, press releases, and SEC filings, as well as complete heat maps. When you sign up, you will have the option to save your search queries performed on the Advanced Search form.
If you have any questions regarding the sign-up process, please send an email to fcpac@law.stanford.edu.
Click on the button below to sign-up.
Stanford Law School
For press inquiries about the FCPAC or for information about the content or functionality of this site, please contact the FCPAC Content Manager at fcpac@law.stanford.edu.
Sullivan & Cromwell LLP
For press inquiries about Sullivan & Cromwell LLP, please contact the firm at SCContactUs@sullcrom.com.
Limitations on Use:
The Foreign Corrupt Practices Act Clearinghouse (FCPAC) is a free public database and website designed to support corporate board members, executives, regulators, policy makers, journalists, lawyers, compliance personnel, scholars, and the broader community in their understanding and awareness of FCPA enforcement activity. Users of the FCPAC can register to receive free email notifications of recent FCPA enforcement actions, settlements, opinions, and new investigations ("Email Notifications").
The FCPAC includes materials created by third parties, and serves as a repository of press releases, court and administrative filing and settlement documents, court orders, dockets, and other enforcement-related materials ("Third-Party Materials"). The FCPAC does not own any of the intellectual property associated with the Third-Party Materials. Accordingly, Stanford University cannot grant or deny permission to use such materials and does not assume any responsibility for their content. Users of the FCPAC are responsible for obtaining all necessary rights and permissions from the appropriate rights holder for any use, reproduction and publication of these materials. Additionally, because the FCPAC has no control over third-party websites and materials, you acknowledge and agree that the FCPAC is not responsible for the availability of such external sites or resources, and does not endorse and is not responsible or liable for any content, advertising, products, or other materials on or available from such sites or resources. Your use of third-party websites, including all content provided on those sites, is subject to the terms of use, privacy policy, and other applicable terms of those websites.
Subject to the terms of this Terms of Service, with proper attribution, you may use the FCPAC for your personal, non-commercial research or analysis. Academic researchers who wish to access the underlying FCPAC data in Excel format should contact the FCPAC Content Manager at fcpac@law.stanford.edu. Scraping of the FCPAC website is not permitted, as set forth below.
By use of this website and/or your agreement to these Terms of Service at registration, you confirm that you accept and agree to comply with these terms of use and that you agree:
Any unauthorized or prohibited use of any content may subject you to civil liability, criminal prosecution, or both, under applicable federal, state, local laws, or applicable foreign laws, rules, regulations, and treaties.
The FCPAC provides users the option to register and access the service through a unique username and password (the "User ID") that is for your personal, non-commercial use only. If you access the FCPAC with a User ID, you agree as follows:
As part of the registration process, which may be necessary to obtain access to the FCPAC, certain registration information may be provided to the FCPAC, Stanford University, and its authorized employees, contractors, vendors, and agents. You represent that your registration information is accurate and truthful. You shall promptly inform the FCPAC of any updates to your registration information in order to keep it true, accurate, and up to date. Each registration is for a single user only. The FCPAC reserves the right to deny creation of your account based on the FCPAC's inability to verify the authenticity of your registration information. A user is not permitted to register additional accounts in an effort to circumvent an account suspension.
The User ID may be used by you to gain access to the FCPAC only for so long as you are authorized to access and use the FCPAC in accordance with these Terms of Service.
Only you may access the FCPAC through the User ID.
You agree to treat the User ID as confidential and not to disclose such User ID, either directly or indirectly, to any person.
You shall not use a User ID that the FCPAC, in its sole discretion, deems offensive or inappropriate.
You are fully responsible for all usage and activity of the FCPAC, including, but not limited to, any use of the User ID.
Registration and the creation of a User ID are meant solely as a convenience for users and confer no copyright, trademark, or other rights to the user. The FCPAC reserves the right to terminate or suspend your access to the FCPAC at its discretion.
Disclaimer of Liability
The information included, indexed, stored or made available on the FCPAC and in the Email Notifications, whether provided by personnel employed by Stanford University or by third parties, is provided for the purposes outlined above only. The information is not intended as legal or any other professional advice and should not be considered as legal or any other professional advice.
In addition, neither Stanford University, nor any of its employees, agents, contractors, or affiliates, or third parties that provided services to Stanford University to create the FCPAC, including Sullivan & Cromwell LLP, warrants the timeliness, accuracy or completeness of the information or analyses displayed in the FCPAC, and we caution all users that inclusion of any information on this site or in the Email Notifications does not constitute an endorsement of the truthfulness or accuracy of that information. Use of the FCPAC and the Email Notifications is at your own risk.
You understand and agree that the FCPAC is provided "AS-IS" and that the FCPAC assumes no responsibility for the update, timeliness, deletion, mis-delivery, or failure to store any user communications or personalization settings. We do not guarantee that our site, or any content on it, will always be available or that access to it will be uninterrupted. To the fullest extent permitted by law, we disclaim all warranties and representations and other terms which may apply to our site or any content on it, whether express or implied.
We will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, arising under or in connection with your use of, or inability to use, the FCPAC or the Email Notifications, or your use or reliance on any content on the FCPAC or in the Email Notifications.
Users agree to take responsibility for any use of the content on the FCPAC or in the Email Notifications and to hold Stanford University and its employees, agents, contractors, and affiliates harmless from any claims.
Copyright
Copyright © 2023. The Leland Stanford Junior University (Stanford University). All Rights Reserved. The information and graphics contained in this web site are copyrighted and may not be distributed, modified, or reproduced in whole or in part without the prior written permission of Stanford University. Copyright is not claimed as to any part of the original work prepared by Sullivan & Cromwell LLP, specifically the material found in the Sullivan & Cromwell Research & Reports section of the website. Sullivan & Cromwell LLP claims copyright of those materials. Copyright is not claimed as to any materials prepared by others, including the Third-Party Materials.
Documents are reproduced, stored, and displayed on the FCPAC with permission from Bloomberg Law.
We may amend these terms from time to time. Please check these terms regularly to ensure you understand the terms that apply at that time.
Except as otherwise modified by the terms set forth above, use of this site is also subject to the Terms of Use for use of Stanford’s websites.
By use of this website and/or by creating an account with the Foreign Corrupt Practices Act Clearinghouse (FCPAC), you consent to the following privacy policy in addition to Stanford’s Online Privacy Policy:
When you first sign up with the FCPAC, we will collect and process the following types of information from you: name, email, affiliation, and industry. Your name and email address are used solely for the purpose of creating your account and generating your username, and for sending email updates to users who voluntarily subscribe to receive such updates.
We may use anonymized web analytics to track user demographics, the types of searches our users run, and the pages our users visit while on the FCPAC website. These analytics allow us to understand what features are of greatest interest to users, to enhance the features and services that we offer to our users, and to improve the user experience. We may share anonymized web analytics and anonymized user information with Sullivan & Cromwell LLP and with academics for research purposes. We may also share data internally with others at Stanford University and with third parties pursuant to valid legal process, as described in the Stanford Online Privacy Policy.
You can choose to save searches performed on the Advanced Search form. Those searches will be saved to your account indefinitely, or until you delete the searches or your account information.
You have the option to delete your account from our system at any time. To request deletion, please contact the FCPAC Content Manager at fcpac@law.stanford.edu.
For information about Stanford University's online privacy policy, please click here.