Violation Tracker Individual Record

Company: 
Siemens AG
Current Parent Company: 
Siemens
Penalty: 
$350,000,000
Year: 
2008
Date: 
December 15, 2008
Primary Offense: 
Foreign Corrupt Practices Act
Violation Description: 

Siemens AG agreed to pay $350 million to resolve SEC charges that the Munich, Germany-based manufacturer of industrial and consumer products violated the Foreign Corrupt Practices Act (FCPA) by engaging in a systematic practice of paying bribes to foreign government officials to obtain business.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Germany
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
diversified
Specific Industry of Parent: 
diversified
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.