A civil society group, Socio-Economic Rights and Accountability Project (SERAP), has sent an open letter to U.S. President Donald J. Trump urging his “Administration to attach and release to Nigeria some $500 million worth of U.S.-based… Continue Reading
Friends of the FCPA Blog — Sandy Sierck and Nick Diamond, who represent the Socio-Economic Rights and Accountability Project in Nigeria — have another good idea. For years, SERAP has been petitioning the DOJ and SEC to return enforcement revenues to the real victims of overseas corruption: the citizens of the corrupt governments.… Continue Reading
I’ve argued in this series that freedom from bribery is a human right, and that FCPA enforcement should do more to protect those rights.
Last post, I discussed the proposal from Nigeria’s Social-Economic Rights and Accountability Project to establish a mechanism for using the proceeds of FCPA settlements to help bribery victims. Specifically, SERAP suggests that civil penalty or disgorgement proceeds be made available to civil-society groups in the victimized country, or to U.S.-based… Continue Reading
Yesterday, Benjamin Kessler wrote a stirring defense of what he called “one of the most altruistic FCPA amendments yet proposed:” adopting a system to share the proceeds of FCPA settlements with the victims of bribery.… Continue Reading
A prominent NGO in Nigeria recently asked the SEC’s Enforcement Division to establish a process enabling foreign government entities victimized by FCPA violations, on a case-by-case basis, to apply for some or all of the civil penalties and disgorgement proceeds companies agree to pay to settle SEC investigations.… Continue Reading