March 30, 2018
Compendium highlights for the month of March include the following:
- The SEC issued an administrative order with the consent of Kinross Gold Corporation— a Canadian Gold mining company—to conclude its investigation into the company’s alleged books and records and internal accounting controls FCPA violations. The SEC ordered Kinross: to cease and desist from committing any future violations of Sections 13(b)(2)(A) & (B) of the Exchange Act, to pay a US$950,000 civil penalty, and to report to the SEC during a one-year term. Kinross didn't admit or deny the SEC's findings.
- Transport Logistics International Inc. (TLI) entered into a three year DPA with the DOJ, requiring TLI to pay a criminal fine of US$2,000,000 for allegedly conspiring to violate the anti-bribery provisions of the FCPA by paying US$2,000,000 in bribes to Vadim Mikerin, a Russian official who worked for a subsidiary of Russia’s State Atomic Energy Corporation. The DOJ filed a one-count criminal information against TLI in federal court in Maryland.
- The SEC issued an administrative cease-and-desist order with the consent of Elbit Imaging Ltd., an Israel-based holding company—to conclude its investigation into the company’s alleged books and records and internal accounting controls FCPA violations, without admitting or denying findings. Elbit was ordered to pay a US$500,000 civil penalty.
Visit the TRACE Compendium to view the complete entries, along with other updates from this month.