What do the DOJ and SEC expect when a company makes a voluntary disclosure of an FCPA violation?
A voluntary disclosure of an FCPA violation, whether to the DOJ or SEC, should be prompt and timely. A “prompt” disclosure of an FCPA violation must be made to the DOJ and/or SEC, as appropriate, as soon as possible after the company discovers the violation and completes an internal investigation. A “timely” disclosure of an FCPA violation must be made to the DOJ and/or SEC, as appropriate, prior to the DOJ or SEC becoming aware of the violation through some other source, such as a press report, a competitor, or an internal whistleblower. The DOJ and SEC receive many tips each day regarding possible violations of the law. If the DOJ or SEC are aware of an FCPA violation prior to receiving a voluntary disclosure, the company making the voluntary disclosure will receive little or no benefit, including mitigation of penalties, for making the voluntary disclosure. The DOJ and SEC will likely require a company making a voluntary disclosure of an FCPA violation to waive the attorney-client a
