In a new twist on an old statute, the Securities and Exchange Commission brought its first Foreign Corrupt Practices Act action charging control person liability under the Exchange Act.
In a July 31 settled enforcement action, the SEC charged a parent corporation, Nature’s Sunshine Products, with violating the FCPA’s anti-bribery, books and records, and internal controls provisions and other securities law violations based on payments allegedly paid by its Brazilian subsidiary to customs brokers to facilitate the importation of unregistered products.
