🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡 Your daily reminder that the SEC is a fucking joke!!!!! 🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡
The SEC has a press release today 'making a splash' charging Amec Foster Wheeler Limited with FCPA violations related to a Brazilian bribery scheme. For this little stunt, they will pay $43,000,000 million in fines!
source: https://www.sec.gov/news/press-release/2021-112
According to the SEC release, this malfeasance occurred from 2012-2014. In those years, Foster Wheeler made £466,000,000 or $646,714,800 in profit!!
https://www.sec.gov/Archives/edgar/data/1328798/000104746914010023/a2222592z424b5.htm
https://www.sec.gov/Archives/edgar/data/1328798/000093041316006120/c84401_20f.htm
How will this company possibly survive with its remaining profit of $603,714,800 from the time period? I mean, that 6.64% fine must really show them that this will not be tolerated, right?!?!...
Jail time and fines starting at a multiple of profits. This is the way regulation will be taken seriously.
Otherwise, it is just a cost of doing business!!!!!!! I'm sure they've penciled that 6.64% in fines into the bribery and illegal shit budget moving forward!
