United Technologies Corporation disclosed last week in a quarterly report that it has received a second subpoena from the Securities and Exchange Commission for potential violations of anti-bribery laws.
In a Form 10-Q, dated April 24, UTC said the SEC issued the subpoena on March 9 “seeking documents related to internal allegations of alleged violations of anti-bribery laws from UTC’s aerospace and commercial businesses, including but not limited to Otis businesses in China.”
In December 2013 and January 2014, UTC said it made voluntary disclosures to the U.S. Department of Justice, SEC, and the U.K.’s Serious Fraud Office to report the status of an internal investigation regarding a non-employee sales representative retained by United Technologies International Operations (UTIO) and IAE for the sale of Pratt & Whitney and IAE engines and aftermarket services, respectively, in China.
On April 7, 2014, the SEC notified UTC that it was conducting a formal investigation and issued its first subpoena to UTC. UTC said it “continues to cooperate fully with the investigations and has responded to requests for documents and information.”