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Violation Tracker Individual Record

Company: Nortek Inc.
Current Parent CompanyMadison Industries
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Recap of Ownership Changes subscribe to see this data field
Penalty: $322,058
Year: 2016
Date: June 7, 2016
Offense Group: competition-related offenses
Primary Offense: Foreign Corrupt Practices Act
Violation Description: Nortek Inc. agreed to pay $291,403 in disgorgement plus $30,655 in interest to resolve allegations concerning $290,000 in improper payments and gifts made to Chinese officials by a Nortek subsidiary in order to receive preferential treatment, relaxed regulatory oversight, or reduced customs duties, taxes, and fees. These included cash payments, gift cards, meals, travel, accommodations, and entertainment.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
Prosecution Agreement: non-prosecution agreement
HQ Country of Current Parent: USA
HQ State of Current Parent: Illinois
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: diversified
Specific Industry of Current Parent: diversified
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.