Today, in what the FCPA Blog called “making FCPA history”, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) announced the agreement by the Global logistics firm Panalpina and the energy companies Shell, Transocean, Tidewater, Noble and Pride International to resolve various outstanding FCPA charges. The total amount of penalties is $156.565 million in criminal fines and about $73.9 million in civil disgorgement, interest and penalties.

  SETTLEMENT BOX SCORE

Entity Criminal Fine Profit

Disgorgement

DPA or NPA Outside

Monitor

Panalpina $70.56MM $11.3MM DPA No
Shell $30MM $18.1MM DPA No
Transocean $13.44MM $7.2MM DPA No
Pride Int’l $32.625MM $23.5MM DPA No
Tidewater $7.35MM $8.3MM DPA No
Noble $2.59MM $5.5MM NPA No
Total $156.565MM $73.9    

In addition to the total amount going to the US Treasury of approximately $229.5, the most interesting item noted is that none of the parties was required to have a corporate monitor as a part of its settlement. In future posts we will review the specific Deferred Prosecution Agreements (or Non-Prosecution Agreement) to see if we might glean some of the DOJ’s concepts of current FCPA compliance best practices.

Download the DPA for Panalpina here, Shell here, Tidewater here, Pride here, Transocean here, and the NPA for Noble here.

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© Thomas R. Fox, 2010

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