Barclays PLC Settles With SEC for $6.3M on FCPA Case
September 27 2019 - 4:08PM
Dow Jones News
By Allison Prang
Barclays PLC settled with the Securities and Exchange Commission
over charges that the company's Asia Pacific region tried to
influence foreign government officials by hiring their relatives
and friends and therefore violated the Foreign Corrupt Practices
Act, the SEC said.
The regulator said the company tried to lure or keep business by
giving government officials' associates, relatives and friends
"valuable employment." The SEC also said the company "falsified
corporate records to conceal the true source of the candidates and
the reasons for hiring them."
Barclays has agreed to pay the SEC about $3.8 million in
disgorgement, a $1.5 million civil penalty and $984,040 in
prejudgement interest, the SEC said. It isn't admitting to or
denying the SEC's conclusions, the regulator said.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
September 27, 2019 15:53 ET (19:53 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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