Matteson Ellis discussed the current outlook for Foreign Corrupt Practices Act (FCPA) cases in Latin America. "Data on enforcement trends suggests we could see fewer FCPA cases from Latin America in 2024," Ellis said, adding that Latin America had a lower percentage of FCPA enforcement activity in 2023 compared to prior years. "More cases in 2023 focused on Asia, Africa, and Russia in particular. Similarly, only three Latin American individuals were charged in 2023, compared to nine in 2022," said Ellis. 

Ellis also suggested the potential for a rebound in FCPA cases involving Latin America going forward. He explained that the 2023 slowdown could be due to a U.S. Department of Justice (DOJ) focus on policy development: "[T]he DOJ seems to be coming off of a big focus on policy development that could have taken some energy and attention away from concluding actual cases. For example, DOJ revised its Corporate Enforcement Policy, revised guidance for Evaluation of Compliance Programs, issued a Pilot Program on Compensation Incentives and Clawbacks, revised its memorandum on Selection of Monitors in Criminal Division Matters, and issued a Safe Harbor Policy for Voluntary Self-Disclosures in Connection with M&A."