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Violation Tracker Individual Record

Company: Flowserve Corporation
Current Parent Company: Flowserve
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $6,574,225
Year: 2008
Date: February 21, 2008
Offense Group: competition-related offenses
Primary Offense: Foreign Corrupt Practices Act
Secondary Offense: kickbacks and bribery
Violation Description: Flowserve settled allegations that from 2001 through 2003 two of its subsidiaries entered into a total of twenty contracts in which $646,488 in kickback payments were made and another $173,758 were authorized in connection with sales of industrial equipment to Iraqi government entities under the U.N. Oil for Food Program.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Texas
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: industrial equipment
Specific Industry of Current Parent: industrial equipment
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.