Enforcement Archive

Sep 02, 2020
Herbalife to pay $122 million to resolve FCPA actions
Herbalife Nutrition has agreed to pay a total of roughly $122 million to settle allegations that it violated the books and records and internal accounting controls provisions of the FCPA. The company will pay the SEC more than $67 million in disgorgement and interest. In a parallel action, the US Department of Justice (DoJ) and the US Attorney’s Offic...
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Aug 14, 2020
US loan company settles FCPA allegations
Greenville, South Carolina-based consumer loan company World Acceptance Corporation (WAC) has agreed to pay $21.7 million to settle SEC allegations that it violated the FCPA. According to the SEC, the bribery scheme took place at WAC’s former wholly-owned subsidiary in Mexico, WAC de Mexico, which the agency alleges paid roughly $4.1 million in bribes, directly or through intermediaries, to Mexican government officials and union officials from at least December 20...
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Jul 08, 2020
Alexion settles FCPA action for $21 million
Boston-based Alexion Pharmaceuticals has agreed to pay a total of more than $21 million to settle SEC allegations that it violated the FCPA via subsidiaries in Turkey and Russia. Specifically, the SEC says in its related administrative order that between 2010 and 2015 Alexion’s subsidiary in Turkey made payments to foreign officials so as to influence them to provide favorable regulatory treatmen...
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May 13, 2020
BIOMIN America settles Cuba sanctions case
Overland Park, Kansas-based BIOMIN America has paid $257,862 to settle its potential civil liability for ‘apparent violations’ of US sanctions against Cuba. The US Department of the Treasury’s Office of Foreign Assets Control (OFAC), which brought the action, says it ‘demonstrates the importance of US companies with a global presence maintaining appropriate sanctions compliance programs, particularly when dealing with foreign subsidiaries and affiliates.’...
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Mar 03, 2020
Cardinal Health resolves China-linked FCPA action
Dublin, Ohio-based Cardinal Health has agreed to pay more than $8 million to resolve allegations that it violated FCPA books and records and internal accounting controls provisions in relation to its former unit in China. ‘Cardinal’s foreign subsidiary hired thousands of employees and maintained financial accounts on behalf of a supplier without implementing anti-bribery controls surrounding these high-risk business practices,’ Anita Bandy, an associate direct...
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Feb 20, 2020
Diageo fined $5 million over alleged disclosure lapses
Alcohol company Diageo has agreed to pay a $5 million penalty to settle allegations that it failed to make necessary disclosures following efforts by its North American subsidiary to counteract weak market conditions. Diageo, which is listed on both the NYSE and London Stock Exchange, owns brands including Johnnie Walker, Crown Royal, J&B, Buchanan’s and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and ...
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Jan 22, 2020
Citibank settles flood-insurance action for $18 million
Citibank has agreed to pay almost $18 million to settle allegations that its Sioux Falls, South Dakota business violated the Flood Disaster Protection Act of 1973 (Flood Act). According to the Federal Reserve, the Flood Act requires federal financial regulatory agencies to adopt regulations prohibiting their regulated lending institutions from pro...
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Oct 10, 2019
Barclays settles FCPA allegations over Asia hires
Barclays has agreed to pay a total of $6.3 million to resolve allegations that the UK-based bank violated the FCPA through employment practices in Asia. The SEC alleges in an administrative proceeding that from 2009 until roughly August 2013, businesses within Barclays’ Asia-Pacific region (APAC) provided ‘valuable employment’ to relatives and friends of government officials and executives of...
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Oct 03, 2019
Fiat Chrysler Automobiles US settles sales reporting case
Fiat Chrysler Automobiles (FCA NV) and its Auburn Hills, Michigan-based subsidiary FCA US have agreed to pay $40 million to settle allegations of misleading investors about vehicle sales. Specifically, the SEC alleges in its administrative proceeding that FCA US from at least August 2012 to July 2016 fraudulently misled investors about the number of new vehicles that it and its dealers sold each mo...
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