Cameron LLP Represents Prominent African NGO in Effort to Assist Victimized Foreign Governments in FCPA Cases
Acting on behalf of the Socio-Economic Rights and Accountability Project (SERAP), prominent NGO in Nigeria, Cameron LLP attorney Alexander W. Sierck recently asked the SEC’s Enforcement Division to establish a process enabling foreign government entities victimized by Foreign Corrupt Practices Act (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. Currently the U.S. keeps all of these settlement proceeds, which frequently exceed $100 million. Sierck asserts that because the FCPA is grounded in foreign policy and national security concerns, there is a sound legal and policy basis for this proposal. In the NGO’s opinion, it is particularly important for the U.S. to recognize such victimized foreign government entities for their efforts to improve the integrity of their operations. United States NGOs with programs benefiting the country of the victimized government entity could apply for settlement proceeds as well. All applicants would need to show that they have solid anti-corruption safeguards in place. A copy of Sierck’s letter on behalf of SERAP to the SEC’s Enforcement Division can be downloaded here. Mr. Sireck’s efforts on behalf of SERAP have also been highlighted on the FCPA Blog. See http://www.fcpablog.com.
Alexander W. Sierck practices international business regulatory law in Washington, D.C. office of Cameron LLP. For 13 years he has co-taught a course at Georgetown’s law school on international white collar crime. He’s a former Director of Trade Policy at the Antitrust Division of the DOJ.