SEC's Non-Prosecution Agreement with Ralph Lauren Corporation Involving FCPA Misconduct

The SEC announced a non-prosecution agreement ("NPA") with Ralph Lauren Corporation in which the company agrees to disgorge profits obtained in connection with bribes paid by a subsidiary to government officials in Argentina from 2005 to 2009.

"When they found a problem, Ralph Lauren Corporation did the right thing by immediately reporting it to the SEC and providing exceptional assistance in our investigation," said George S. Canellos, Acting Director of the SEC's Division of Enforcement. "The NPA in this matter makes clear that we will confer substantial and tangible benefits on companies that respond appropriately to violations and cooperate fully with the SEC."

See: Non-Prosecution Agreement.Additional Materials: Press Release.