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Top related persons:
Nicholas Pfosi - 1 Charles Cain - 1 3M - 1 Susan Heavey - 1 Ismail Shakil - 1 Rami Ayyub - 1 Caitlin Webber - 1 Mike Harrison - 1
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Maplewood , Minnesota U.S China
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REUTERS - 1 Securities and Exchange - 1 SEC - 1 Employees - 1 Thomson - 1

Search resuls for: "Charles Cain"


3 mentions found


☆ 3M settles US anti-bribery law charges in China unit, SEC says
  + stars: | 2023-08-25 | by ( Us Appeals Judge Faults Probe Of Federal Circuit'S Pauline Newman | Andrew Goudsward | August | ) www.reuters.com   time to read: +1 min
The 3M logo is seen at its global headquarters in Maplewood, Minnesota, U.S. on March 4, 2020. REUTERS/Nicholas Pfosi/File Photo Acquire Licensing RightsCompanies 3M Co FollowAug 25 (Reuters) - 3M Co (MMM.N) has agreed to pay more than $6.5 million to resolve U.S. charges of Foreign Corrupt Practices Act violations (FCPA) related to a 3M subsidiary in China, the Securities and Exchange Commission said on Friday. 3M did not admit or deny the SEC's findings, according to the statement. "This matter highlights the dangers to companies with global operations posed by inadequate internal accounting controls," said SEC's FCPA unit chief Charles Cain. 3M said it discovered in 2018 that some employees had circumvented company controls and ethics policy, and the company reported the matter to the U.S. government and fully cooperated with its investigation.
Persons: Nicholas Pfosi, Charles Cain, 3M, Susan Heavey, Ismail Shakil, Rami Ayyub, Caitlin Webber, Mike Harrison Organizations: REUTERS, Securities and Exchange, SEC, Employees, Thomson Locations: Maplewood , Minnesota, U.S, China
☆ Oracle to pay about $23 mln to resolve a second SEC bribery case
  + stars: | 2022-09-27 | by ( Jonathan Stempel | Boies | Hausfeld Among Law Firms Reaping | ) www.reuters.com   time to read: +2 min
The Oracle logo is shown on an office building in Irvine, California, U.S. June 28, 2018. The case covered alleged wrongdoing from 2014 to 2019, and is the second time the SEC charged Oracle with violating the federal Foreign Corrupt Practices Act ("FCPA"), an anti-bribery law. According to the regulator, Oracle's Turkey and UAE units also used slush funds to pay for foreign officials to attend technology conferences in violation of Oracle policies. Oracle, based in Austin, Texas, agreed to pay a $15 million civil fine and about $7.9 million of disgorgement and interest. In 2012, Oracle agreed to pay a $2 million fine to settle SEC charges concerning the creation of millions of dollars of unauthorized side funds by Oracle India from 2005 to 2007.
☆ SEC fines Oracle $23 million, says the company bribed foreign officials for business
  + stars: | 2022-09-27 | by ( Ashley Capoot | ) www.cnbc.com   time to read: +1 min
Oracle has settled with the Securities and Exchange Commission after it was charged with violating the Foreign Corrupt Practices Act for a second time, the SEC announced Tuesday. The SEC said Oracle violated provisions of the act between 2016 and 2019 when its subsidiaries in India, Turkey and the United Arab Emirates created slush funds used to bribe foreign officials. Oracle's subsidiaries also used the funds to pay foreign officials to attend technology conferences, according to the SEC. The company did not admit to or deny the SEC's findings, and it will pay more than $23 million to settle the charges. The company also settled charges in 2012 after Oracle India created millions of dollars of side funds, the SEC said.
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