Fiat Chrysler Automobiles (FCA) has agreed to pay $9.5 million to settle allegations from the Securities and Exchange Commission (SEC) that it made “misleading disclosures” regarding an internal audit of emission control systems for diesel vehicles it sold in the United States.
The disclosures by FCA were made in the aftermath of the Dieselgate emissions scandal involving fellow carmaker Volkswagen. In the Dieselgate scandal, VW was found to have used cheating software to circumvent the U.S. testing process and concealed material facts about its cheating from U.S. regulators. In 2017, VW was ordered to pay a $2.8 billion penalty to settle some of these claims; the company recently completed a three-year independent compliance monitorship with the Department of Justice.
