SciClone Pharmaceuticals: A Textbook Case of FCPA Violations for Gifts, Meals, Entertainment and Travel
The Securities and Exchange Commission continues its steady march as the prominent FCPA enforcement agency against corporations. The Justice Department has not brought any enforcement actions this year and continues to reevaluate its FCPA compliance program. In an interesting enforcement action, the SEC settled a case with SciClone Pharmaceuticals for $12.8 million for violations occurring in China. Unlike many other SEC enforcement actions, the SEC’s...