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Punishing The Penitent: Disproportionate Fines In Recent Fcpa Enforcements And Suggested Improvements, Bruce Hinchey
Punishing The Penitent: Disproportionate Fines In Recent Fcpa Enforcements And Suggested Improvements, Bruce Hinchey
Bruce Hinchey
The Department of Justice has long promised tangible benefits to companies that voluntarily disclose Foreign Corrupt Practices Act (FCPA) violations. Justice Department officials have promised that the enforcement of the FCPA is both fair and consistent. Despite these promises, critics question the benefits of voluntary disclosure based on the outcome of a few, isolated cases. In this thesis, forty FCPA cases from 2002 through 2009 are compiled, comparing the ratio between bribes and fines for companies that do and do not voluntarily disclose. The results side with the critics and reveal that there does not appear to be a benefit …