FCPA, SEC

Cain Takes the Reins as Chief of SEC’s FCPA Unit

With the official announcement that Charles Cain will replace Kara Brockmeyer as head of the SEC’s Foreign Corrupt Practices Act (FCPA) Unit, it is more likely that we will see a return to the enforcement trends and outcomes of recent years. Mr. Cain has served as Acting Chief of the FCPA Unit since April 2017, and directly supervised recent enforcement actions, including the $965 million global settlement with Sweden-based telecommunications provider Telia Company AB announced in September this year.

Mr. Cain helped write the book on the SEC and DOJ’s enforcement views and practices, co-authoring the Resource Guide to the U.S. Foreign Corrupt Practices Act in 2013. This resource has helped guide companies through enforcement analysis since its publication. Prior to serving as Acting Chief of the FCPA Unit, Mr. Cain served as the Deputy Chief of the FCPA Unit for approximately 6 years. 

In the SEC’s public announcement, Co-Director of the SEC’s Enforcement Division, Steven Peikin, reiterated that the SEC’s “anti-corruption program under [the SEC’s] Foreign Corrupt Practices Unit remains a top priority for the Enforcement Division.” Enforcement actions have just recently started to be announced since President Trump’s inauguration, and with Mr. Cain now officially named as the Chief of the FCPA Unit, we likely can expect to see more enforcement actions before the end of the year.

Frank Schall

About Frank Schall

Frank Schall has in-depth experience conducting internal investigations and representing clients in regulatory enforcement and white collar criminal defense matters. Frank has assisted clients in matters before the SEC, CFTC, FCA, MAS, HKMA, DOJ, and various U.S. Attorneys’ offices, including responding to global investigations into LIBOR and other reference rates, foreign exchange trading, and the allegations raised by the Panama Papers.

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