Chief of FCPA Unit Kara Novaco Brockmeyer leaves SEC after 17 years of service


Securities and Exchange Commission proposes Transaction Fee Pilot for NMS Stocks

The Securities and Exchange Commission (SEC) announced that Kara Novaco Brockmeyer, Chief of the Enforcement Division’s Foreign Corrupt Practices Act (FCPA) Unit, is planning to leave the agency later this month.

Since 2011, Ms. Brockmeyer has led a national unit of 38 attorneys, accountants, and other specialists focusing on violations of the anti-bribery and accounting provisions of the federal securities laws. In addition, Ms. Brockmeyer has played a leading role in SEC programs, having founded and served as the co-head of the Enforcement Division’s Cross Border Working Group, a proactive risk-based initiative focusing on U.S. companies with substantial foreign operations, and serving as a member of the Enforcement Division’s Cooperation Committee and the Enforcement Advisory Committee.

Kara’s creativity and perseverance have led to truly outstanding results in the SEC’s FCPA program,” said Stephanie Avakian, Acting Director of the SEC’s Enforcement Division. “Her leadership of the unit has led to many successes in the FCPA area.

Ms. Brockmeyer added:

It has been an honor and a privilege to work with the incredibly talented and dedicated staff in the FCPA Unit and throughout the Division of Enforcement and the SEC. I am very proud of the results that the unit has achieved over the past five years.

Under Ms. Brockmeyer’s supervision of the FCPA unit, the SEC has brought 72 FCPA enforcement actions addressing a wide range of misconduct and resulting in judgments and orders totaling more than $2 billion in disgorgement, prejudgment interest, and penalties.

During Ms. Brockmeyer’s tenure as Chief of the FCPA Unit, the SEC expanded its use of cooperation tools in the FCPA area, including the first FCPA-related non-prosecution agreement (NPA) in 2013 with Ralph Lauren Corporation, and the first use of a deferred prosecution agreement with an individual in an FCPA case in 2016. Ms. Brockmeyer also supervised a significant financial fraud matter that resulted in charges against Weatherford International and its executives for inflating earnings by using deceptive income tax accounting, and against Ernst & Young LLP and two of its partners for conducting failed audits of Weatherford.

Ms. Brockmeyer joined the SEC in 2000 following several years in private practice. She started supervising investigations in 2002 and was promoted to Assistant Director in 2005. In addition to FCPA investigations, Ms. Brockmeyer has substantial experience supervising matters involving financial fraud, insider trading, market manipulation, and violations by regulated entities. She received the Capital Markets Award and the Supervisory Excellence Award from the SEC in 2004 as well as the Irving Pollack Award in 2013 and the Meritorious Impact Award in 2016.

Ms. Brockmeyer received her law degree magna cum laude from the University of Michigan Law School and her undergraduate degree cum laude from Williams College.

Following Ms. Brockmeyer’s departure, Charles Cain, who is currently the Deputy Chief of the FCPA Unit, will serve as Acting Chief.

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Chief of FCPA Unit Kara Novaco Brockmeyer leaves SEC after 17 years of service

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