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Violation Tracker Individual Record

Company: LAN Airlines
Current Parent Company: LATAM Airlines Group
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $9,400,000
Year: 2016
Date: July 25, 2016
Offense Group: competition-related offenses
Primary Offense: Foreign Corrupt Practices Act
Secondary Offense: kickbacks and bribery
Violation Description: LAN Airlines agreed to pay $9.4 million to settle a case relating to payments it authorized during a dispute with its union employees in Argentina. To settle the SEC's charges that it failed to keep accurate books and records and maintain adequate internal accounting controls, LAN agreed to pay $9.4 million in disgorgement and prejudgment interest.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Chile
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: airlines
Specific Industry of Current Parent: airlines
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.