FCPA & The Trump Administration: What to Expect from an America First Approach to Enforcement of Foreign Bribery Laws
The Foreign Corrupt Practices Act (FCPA) prohibits foreign bribery. The law is enforced by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), and it has become one of the most frequently enforced laws against multinational companies operating in emerging markets over the past 15 years, resulting in dozens of criminal convictions against executives and officials and over $25 billion in fines and penalties against companies.
On February 5, 2025, Attorney General Pam Bondi issued a memorandum directing prosecutors to prioritize FCPA enforcement to cases involving transnational criminal organizations or cartels, which would significantly narrow enforcement of the law. Five days later, President Trump issued an executive order calling for a 180-day “pause” altogether on FCPA enforcement to ensure the law was enforced in a manner that would advance the interests of US companies in furtherance of an “America First” foreign policy agenda. During this pause, DOJ has taken what some have characterized as differing positions in pending cases, leaving many to wonder how DOJ will enforce the law under the Trump Administration and what an America-First approach to FCPA enforcement might look like. In-house counsel and compliance professionals may also ask how they should react to the evolving government priorities when confronted with potential FCPA issues.
In this timely panel, you will hear from Brian Rabbitt, a partner at Jones Day and former senior DOJ and SEC official who handled some of the most-significant FCPA cases brought under the first Trump Administration, and Fry Wernick, a partner at Vinson & Elkins and former federal prosecutor and supervisor of DOJ’s FCPA Unit during the first Trump Administration.
Featuring:
- Brian Rabbitt, Partner, Jones Day
- Ephraim (Fry) Wernick, Partner, Vinson & Elkins LLP
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As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker.