Are Administrative Proceedings the New Civil Complaints?

The FCPA Blog
05.06.14
In this blog post, Marc Alain Bohn discusses the SEC's pronouncement that it intends to rely more frequently on administrative proceedings as opposed to civil court actions to resolve FCPA-related enforcement matters. Bohn notes that FCPA cases resolved via administrative proceeding require no judicial approval, as opposed to the settlement of formal civil complaints. This distinction, he says, is important "because district court judges have complicated several SEC prosecutions in recent years by demanding changes to negotiated settlements[,] dismissing charges or otherwise limiting claims." In the FCPA context, the SEC has historically used administrative proceedings either in conjunction with a court-filed civil complaint or for smaller matters that involved no parallel criminal charges; since the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, however, Bohn points out that the nature of FCPA cases handled via administrative proceeding has changed, as has the size of the monetary assessments they impose.
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