Disgorgement and Penalty Calculations

Our empirical approach

We have a track record of successfully conducting financial gain and profitability analyses to obtain favourable financial settlements for our clients. Our diverse team of experts have developed a proprietary approach based on specialist experience over the decades. Our economic, financial and accounting arguments to exclude non-relevant revenue items and include appropriate deductions have been accepted by numerous global enforcement agencies, leading to a significant lowering of settlement values.

Principled and defensible analyses

We blend strength in data mining with in-depth accounting knowledge and financial modelling skills, to provide robust and defensible analyses of revenues and costs attributable to the business activity tainted by allegations. We work collaboratively with clients and legal counsel to ensure the analysis aligns with planned legal arguments and considers specific circumstances.  Our approach is stress-tested to identify those areas that drive the calculation permitting clients and legal counsel to develop their negotiating positions and assess the financial impacts on potential outcomes. The robustness and accuracy of FRA’s methodology was explicitly noted in the SFO judgment of the $4bn Airbus global settlement.  

Experience with the authorities

Having made dozens of written and in-person representations to various regulators around the world, our professionals understand what approaches regulators and enforcement authorities will accept and have accepted in the past. Whether dealing with a single regulator or multiple authorities, our clear and principled approach has established credibility with regulators and enforcement authorities around the world, including in the US, UK, European and Brazilian authorities.