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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-03-07T19:21:00
U.K.-based mining and minerals company Rio Tinto will pay a $15 million fine to settle charges of violating the Foreign Corrupt Practices Act (FCPA) lodged by the Securities and Exchange Commission (SEC).
Rio Tinto consented to an SEC order alleging it violated the books and records and internal accounting controls provisions of the Securities Exchange Act when it entered into a scheme with a consultant in 2011 to bribe government officials in Guinea. The company neither admitted nor denied the agency’s findings.
Rio Tinto hired a French investment banker and close friend of a former senior Guinean government official as a consultant to help it retain its mining rights in the Simandou mountain region in Guinea, the SEC stated in a press release Monday. The consultant was hired without a contract and without proper due diligence, the agency said, working for four months on behalf of Rio Tinto before entering into a written agreement on services to be provided.
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2023-11-21T21:13:00Z By Kyle Brasseur
Rio Tinto consented to pay a $28 million fine to resolve charges levied by the Securities and Exchange Commission alleging the mining company and its executives committed fraud by inflating the value of coal assets.
2023-10-31T16:13:00Z By Kyle Brasseur
Flooring manufacturer Mohawk Industries disclosed it does not expect to face enforcement from the Securities and Exchange Commission regarding allegations of violations of securities laws raised in a class-action lawsuit that the company agreed to pay $60 million to settle.
2023-05-03T21:13:00Z By Adrianne Appel
Stryker disclosed it is investigating whether certain of its business activities might have violated the Foreign Corrupt Practices Act. The company previously settled Securities and Exchange Commission charges of violating the FCPA twice in the last decade.
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.
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