Updated: Odebrecht S.A. and Braskem S.A. Agree to Record Global Foreign Bribery Resolution | Practical Law
The Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) recently announced that Odebrecht S.A. and its affiliate petrochemical unit, Braskem S.A., have agreed to pay at least $3.5 billion to resolve claims that the companies violated various countries' anti-bribery and corruption laws, including the US Foreign Corrupt Practices Act (FCPA). The resolution includes payments to the US, Switzerland, and Brazil and is the largest-ever global foreign bribery resolution.