A Shot Across the FCPA Bow: SEC Provides Targeting Clues

In a telephone conference call sponsored by the ABA, Lorin Reisner, Deputy Director of Enforcement at the SEC, disclosed that the SEC is relying on data analytics and industry-specific risk analysis to initiate FCPA investigations. Reisner’s disclosure is extremely significant because he specifically explained that investigations initiated as a result of voluntary disclosures by companies constitute a smaller percentage of the SEC’s investigations…. Instead of relying on voluntary disclosures, the SEC is using proactive techniques to identify risk areas where industries may be engaged in bribery.

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