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MTS Systems: FCPA probes close with no action

Jaclyn Jaeger | August 31, 2017

MTS Systems, a global supplier of test systems and sensing solutions, said in a quarterly filing this month that it will not be facing an enforcement action regarding a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.

In 2012, MTS said it investigated “certain gift, travel, entertainment and other expenses” incurred in connection with some of its operations in the Asia Pacific region. This investigation focused on possible violations of company policy, corresponding internal control issues, and potential violations of applicable law, including the FCPA, it stated.

“Substantial investigative work was completed on this matter, and we implemented remedial measures, including changes to internal control procedures and removing certain persons formerly employed in our Korea office,” the company stated.

MTS said it voluntarily disclosed this matter to the Justice Department and the SEC. It also has updated the... To get the full story, subscribe now.