Implemented in 1977, the Foreign Corrupt Practices Act (FCPA) has been a mainstay of DOJ enforcement actions—and corporate efforts to stamp out illegal foreign corruption. The advice on this topic has been thorough and consistent for a long time, in part because of the enthusiasm regulators have shown to prosecute violators.

The enthusiasm was at least partly financially motivated. In 2024 alone, the Department of Justice (DOJ) and the SEC collected over $1.28 billion in fines and penalties. The total for the prior decade, including 2024, is $12.46 billion.

In a major change of policy, however, a February 2025 presidential executive order paused FCPA enforcement.

This executive action included the ordering of the attorney general to cease any new FCPA investigations and enforcement actions (and review existing ones).

At first, this can seem like a big deal. The reason this falls under the category of noise, however, is at least threefold. First, notwithstanding the executive order, the law itself has not been repealed. Enforcement may well be paused now, but presumably, enforcement could just as easily be resumed. Indeed, a recent DOJ memo does just this, albeit in a relatively restrained way.

Second, while the federal government may not be pursuing FCPA matters, any state with an anti-bribery law is still able to enforce these laws.

Third, many other countries have laws similar to the FCPA—and none of them have been suspended.