In the first change to the FCPA Blog’s Top Ten list in 2018, Paris-based banking giant Société Générale S.A. landed in the fifth spot with its $585 million resolution Monday with the DOJ.
SocGen replaces another French company, Total SA, which joined the list in 2013 after its $398 million settlement.
The DOJ assessed the full $585 million penalty against SocGen but said half of it could be paid to the French enforcement agency, Parquet National Financier.
SocGen’s settlement is structured similar to Keppel Offshore’s FCPA resolution in December last year. The Keppel resolution included credit for penalties paid to authorities in Brazil and Singapore.
In September 2017, the DOJ and SEC allowed Telia Company to pay part of its criminal penalties and disgorgement to Swedish and Dutch authorities.
Features of the new FCPA settlement structure were also seen in VimpelCom’s 2016 resolution, which stipulated that some of the company’s disgorgement to the SEC could be paid to Dutch prosecutors.
And in 2016, Odebrecht / Braskem’s FCPA enforcement action allowed for offsets against payments to authorities in Brazil and Switzerland.
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Here are the current top ten FCPA enforcement actions of all time based on assessed penalties:
1. Telia Company AB (Sweden): $965 million in 2017.
2. Siemens (Germany): $800 million in 2008.
3. VimpelCom (Holland) $795 million in 2016.
4. Alstom (France): $772 million in 2014.
5. Société Générale S.A. (France): $585 million in 2018.
6. KBR / Halliburton (United States): $579 million in 2009.
7. Teva Pharmaceutical (Israel): $519 million in 2016.
8. Keppel Offshore & Marine Ltd.(Singapore): $422 million in 2017.
9. Och-Ziff (United States): $412 million in 2016.
10. BAE (UK): $400 million in 2010.
Just two U.S.-based companies are on the Top Ten list — KBR/Halliburton in the sixth spot, and Och-Ziff at number nine.
Richard L. Cassin is the publisher and editor of the FCPA Blog.