A global software company settled SEC charges for anti-bribery, books and records and internal accounting controls violations under the Foreign Corrupt Practices Act.
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Treasury Secretary Janet L. Yellen congratulated staff at the Financial Crimes Enforcement Network for the successful launch of the beneficial ownership reporting system. The reporting requirements went into effect on January 1, 2024.
A U.S.-based global chemicals company settled SEC charges for bribery and recordkeeping and internal accounting controls failures in violation of the Foreign Corrupt Practices Act.
A multinational telecommunications and internet service provider settled charges with the SEC for making materially misleading statements and omissions regarding "cost-of-revenue" in its annual, quarterly and current reports.
A manufacturer settled charges for Foreign Corrupt Practices Act violations after a Chinese subsidiary improperly recorded expenses for providing Chinese government officials with overseas travel and entertainment as legitimate business expenses.