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FCPA Scorecard Blog

Foreign Corrupt Practices Act & Anti-Corruption

Legg Mason preparing for FCPA settlement

DOJ SEC FCPA Legg Mason

On May 30, Legg Mason, a Baltimore-based investment management firm, announced in a 10-K SEC filing that it will soon complete negotiations with the DOJ and SEC to resolve FCPA allegations stemming from how Permal, a London-based fund purchased by Legg Mason in 2005, managed assets of Libyan governmental entities in 2005-2007. Legg Mason reserved $67 million for the settlement, which reflects, in part, the net revenues of approximately $31 million earned by Permal for managing the assets.

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