A company culture geared to “win business at any cost” encouraged employees of New York-based aerospace manufacturer Moog to pay bribes in India to win contracts, the Securities and Exchange Commission alleged.

Moog agreed to pay nearly $1.7 million in penalties and fines to settle allegations that its Indian subsidiary, Moog Motion Controls Private, violated the Foreign Corrupt Practices Act (FCPA) numerous times from 2020-22, the SEC announced in a press release Friday.

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Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...