Veon, a global provider of connectivity and digital services, has announced a deferred prosecution agreement it entered with the U.S. Department of Justice in February 2016 has concluded. This also marks the end of Veon’s compliance monitorship, conducted in connection with the DPA and the company’s settlement with the U.S. Securities and Exchange Commission.
Veon said in a statement it’s “pleased that its commitment to ethics, compliance, and internal controls, along with the improvements it has made over the past three years, have enabled it to successfully complete the DPA and monitorship in a timely manner. Veon will continue to ensure that its robust anti-corruption program is effective and sustainable over the long-term.”
With the conclusion of the DPA, the Department of Justice has filed a motion with the U.S. District Court for the Southern District of New York to dismiss the charges deferred by the DPA. “This is a significant milestone for our company which demonstrates the strong progress we have made in building a robust and sustainable compliance programme across our business,” said Chairman and CEO Ursula Burns. “A culture of ethics and compliance is now reflected in our structures, procedures, and daily ways of working.”
Burns said key to strengthening its internal controls and compliance culture was the appointment of Group General Counsel Scott Dresser in 2014, as well as the appointment of Group Chief Compliance Officer Josh Drew in 2017. “Their leadership and the diligence of their teams have been essential in leading the company successfully through the entire process and monitorship,” she said. “We remain committed to ensuring ethics and compliance underscores everything we do, and I am proud of the hard work by our employees to ensure we, as a group, are working at the highest standards.”