In recent years, a profound change in the sanctioning of corporate conduct has taken place. Instead of criminal prosecution, the US government increasingly negotiates deferred settlements to address supposed corporate misconduct. Other countries are following their lead by employing settlement or regulatory sanctions. The sums extracted from corporations through settlements and fines are considerable, but they create a strikingly different incentive structure within firms for policing deviant behavior. While criminal prosecutions engage the personal responsibility of company executives, legal settlements are carried by the company’s budget and ultimately the shareholders. This paper analyzes the trend and its implications for the application of legal standards outside a country's jurisdictions. It underlines the role of market power in shaping geopolitics in this new era of economic conflict.