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SEC Official: No More “Cookie-Cutter” Monitorships

Global Investigations Review

01 Nov 2018

Morrison & Foerster partner James M. Koukios noted the unusual aspects of the settlement agreement Petrobras made with the SEC when the $933 million the SEC ordered it to pay was offset by what Petrobras paid to investors in a related U.S. class action settlement.

“I don’t really recall this ever happening before in the FCPA space,” he said in the Global Investigations Review article “SEC official: No more “cookie-cutter” monitorships.”

Mr. Koukios added that “it’s almost hard to gauge penalties these days” because the DOJ and SEC are “giving credit to everyone” by offsetting fines to multiple authorities in the U.S. and abroad.

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