Business as Usual? Key Takeaways from the Trump Administration's FCPA Enforcement Pause

On 10 February 2025, the Trump administration issued an Executive Order (EO) pausing all Foreign Corrupt Practices Act (FCPA) investigations and enforcements for at least 180 days. The EO, which was issued to ‘restore American competitiveness and security in FCPA Enforcement’ directs the Attorney General to issue revised, reasonable enforcement FCPA guidelines.

The EO does not invalidate the FCPA or affect the operation of other foreign and state anti-corruption laws. Further, international anti-foreign bribery agreements continue to bind the US and a majority of countries around the world (e.g., the UN Convention Against Corruption and OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transaction).

In this changing geopolitical climate, it is imperative that individuals and businesses engaging with foreign government officials, political parties, and public international organisations: (1) properly understand the multijurisdictional risks of their engagement; (2) continue to engage in appropriate anti-corruption practices to mitigate these risks; and (3) consider the statute of limitations for FCPA offences and the risk of delayed prosecutions following the current pause, or under a future change in administration. 

In this article, we discuss: the impact of the EO, the multijurisdictional anti-foreign bribery regimes that continue to apply following the EO, and the risks for businesses going forward.

What is the impact of the EO?

The EO orders the Attorney General to: 

• stop all new and existing FCPA investigations and enforcement actions;
• conduct a review of past FCPA investigations and enforcement actions; and
• issue new FCPA guidelines or policies to further American economic and national security, including any remedial measures to address inappropriate past FCPA investigations and enforcement actions.

Importantly:

• a “pause” does not equate to an abandonment of all FCPA investigations and enforcements by US authorities. The EO expressly allows the Attorney General to make individual exceptions to investigate and enforce the FCPA. Moreover, the order only applies to criminal FCPA investigations and enforcement by the Department of Justice (DOJ). The U.S. Securities and Exchange Commission (SEC) is not bound by the order and can still engage in civil FCPA investigations and enforcement actions.
• Businesses and individuals could be prosecuted for foreign bribery after the EO is revoked or by the next US administration. Since foreign bribery offences typically have a 5-year limitation period under the FCPA, enforcement may be resumed if the 180-day pause is lifted or there is a change in policy following the next US administration (from January 2029 onwards).

Jurisdictional perspectives from our global experts:

As the EO does not repeal the FCPA or affect the operation of other foreign and…