Although the number of FCPA enforcement actions by the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) are down in 2015, a recent report indicates the the third quarter saw twice as many FCPA claims resolved as the first two quarters of 2015 combined.

There does not appear to be a clear single cause for the recent uptick; however, the new enforcement priorities articulated in the Yates Memo (released on September 9, 2015) are likely a factor in the sudden increase.  A hallmark of the Yates Memo is a new focus on holding individual directors and officers liable for their actions on behalf of a company.  Therefore, if individual liability is indeed driving FCPA enforcement to higher levels, companies — and now the individual directors and officers — must should take stock of their anti-corruption policies as a new wave of enforcement may be fast approaching.