Rio Tinto resolves legacy U.S. Securities and Exchange Commission FCPA investigation
March 06 2023 - 5:01PM
Business Wire
Rio Tinto has today resolved a previously self-disclosed
investigation by the U.S. Securities and Exchange Commission (SEC)
into certain contractual payments made to a former consultant over
a decade ago in 2011, relating to the Simandou project in the
Republic of Guinea.
Without admitting to or denying the SEC’s findings, Rio Tinto
has agreed to pay a $15 million civil penalty for violations of the
books and records and internal controls provisions of the Foreign
Corrupt Practices Act (FCPA).
In connection with the settlement, Dominic Barton, Chairman of
Rio Tinto said: “We are glad to have resolved this matter related
to events that occurred over a decade ago on appropriate and
reasonable terms. When Rio became aware of the issue, an internal
investigation was immediately launched, and we proactively notified
the appropriate authorities.
“Since becoming aware, Rio Tinto has taken significant actions
to enhance our compliance programme based on best practices. Under
current leadership we are taking action to build a culture guided
by our values of care, courage and curiosity; an environment where
every team member feels comfortable to speak up if something is not
right. We remain committed to conducting business to the highest
standards of integrity, and ensuring that our projects benefit
communities, host governments, shareholders, and customers.”
This announcement is authorised for release to the market by
Steve Allen, Rio Tinto’s Group Company Secretary.
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