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Violation Tracker Individual Record

Company: Tyco International Ltd.
Current Parent Company: Johnson Controls
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $50,000,000
Year: 2006
Date: April 17, 2006
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Violation Description: Tyco International Ltd. agreed to pay a $50 million penalty to settle allegations that, from 1996 through 2002, it violated the federal securities laws by, among other things, utilizing various improper accounting practices and a scheme involving transactions with no economic substance to overstate its reported financial results by at least one billion dollars.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Ireland
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: automotive parts
Specific Industry of Current Parent: automotive parts; business services
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.