Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Did OSI Systems commit FCPA and securities trading violations?

Jaclyn Jaeger | February 2, 2018

OSI Systems, an American company based in California that develops and markets security and inspection systems, said in a securities filing that the SEC and Department of Justice have commenced investigations into potential violations of the Foreign Corrupt Practices Act.

The launch of the SEC investigation followed a report by a short seller, the company disclosed in a securities filing. Specifically, the disclosure follows a critical report conducted by Muddy Waters claiming OSI Systems “obtained a major turnkey contract in Albania through corruption. It is likely that OSIS’s accounts are misstated as a result.”

Additionally, OSI Systems said the U.S. Attorney’s Office for the Central District of California has also said it intends to request information “regarding FCPA compliance matters.”

In addition, the SEC and Department of Justice are investigating “trading in the company’s...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.