FCPA Penalties in 2019 Poised to Shatter Previous Record
Kurt Wolfe was quoted in a Bloomberg Law article titled, “FCPA Penalties in 2019 Poised to Shatter Previous Record.” Record monetary penalties in Foreign Corrupt Practices Act cases add to the challenges multinational corporations face in navigating FCPA compliance issues. There is also a growing spotlight on FCPA enforcement actions, which are now broadcast on social media. As Wolfe points out, the hashtag #SEC is no longer synonymous with sports. Rather, regulators are using hashtags on social media to draw attention to enforcement actions. Wolfe explains, “Defendants and their counsel must operate under a new set of assumptions about how well-contained an [SEC] press release will be….Combine a provocative caption with a popular hashtag, and the SEC can exponentially increase its Twitter impressions and click-through rate, thereby amplifying the publicity – and public consciousness – of an enforcement action.”