News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
Receive the CW newsletter and access CPE webcasts.
- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2022-12-15T14:55:00
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.”
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
Receive the CW newsletter and access CPE webcasts.
2023-03-03T19:53:00Z By Adrianne Appel
Swedish telecommunications company Ericsson agreed to pay nearly $207 million following two breaches of its 2019 deferred prosecution agreement with U.S. authorities.
2023-03-01T16:50:00Z By Jeff Dale
Ericsson announced the departure of Chief Compliance Officer Laurie Waddy as the Swedish telecommunications company braces for another year under an independent compliance monitorship.
2022-06-10T17:16:00Z By Aaron Nicodemus
The Securities and Exchange Commission opened an investigation into Ericsson following the Swedish telecommunications company’s acknowledgement of evidence of “corruption-related misconduct” that occurred in its Iraq operations.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
Site powered by Webvision Cloud