Close

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.

Plantronics announces closure of Polycom FCPA investigation

Jaclyn Jaeger | December 27, 2018

Plantronics, a U.S. communications equipment company, announced Wednesday that Polycom entered into a settlement with the Securities and Exchange Commission for violations of the Foreign Corrupt Practices Act that Polycom previously self-reported.

Polycom neither admitted nor denied the SEC’s allegations. As part of resolving these matters, a payment of $36 million will come from an escrow secured by Plantronics as part of its acquisition of Polycom.

After discovering evidence of possible improper behavior on the part of former employees at its subsidiary in China, Polycom voluntarily reported the matter to the U.S. government, conducted a thorough investigation, and fully cooperated with U.S. authorities. The conduct at issue was limited to Polycom China and occurred prior to Plantronics’ acquisition of Polycom in July 2018, and prior to Polycom going private in 2016. All the individuals involved had left Polycom by the time Plantronics acquired it.

“We are...

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.