On September 25, 2018, the SEC announced a settlement of FCPA charges against the former CEO of a Chilean-based chemical and mining company for $125,000. According to the SEC, over the course of seven years, the company’s then-CEO “caused the company to make nearly $15 million in improper payments to Chilean political figures and others connected to them.” The former CEO agreed to the settlement without admitting the findings in the SEC’s order. According to the SEC’s order, the former CEO signed false certifications related to financial reporting in the United States.
Last year, the company agreed to pay $30 million to settle parallel DOJ and SEC charges against the company. That settlement demonstrated the jurisdictional reach of U.S. government enforcement of the FCPA – while the company is a Chilean company with no U.S. operations, it is registered with the SEC as a foreign private issuer.