DOJ, SEC extend Ericsson compliance monitorship one year


Swedish telecommunications company Ericsson agreed with U.S. authorities on a one-year extension of its independent compliance monitorship after a second breach of its obligations under a deferred prosecution agreement (DPA) earlier this year.

The term of the monitor, required as part of settlements with the Department of Justice (DOJ) and Securities and Exchange Commission in December 2019 for violations of the Foreign Corrupt Practices Act (FCPA), will now run through June 2024, the company announced Wednesday. The monitorship was originally slated to last three years.

“This extension is consistent with our commitment to continuous improvement of Ericsson’s ethics and compliance program,” said Börje Ekholm, the company’s president and chief executive officer, in a press release. “We have made significant progress in changing our culture and implementing an enhanced compliance framework and system of internal controls, and we will use this additional time to ensure these improvements are ingrained in our organization, our daily interactions, and the way we do business.”

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