SEC Fines US Gunmaker For Bribing Pakistani Officials
From the Blog riazhaqUS gun manufacturer Smith and Wessen has agreed to pay the U.S. government $2 million fine for bribing officials in Pakistan, Indonesia and other countries as it tried to sell firearms to military and law enforcement agencies, according to US media reports. The company has also implemented new procedures for its overseas business practices. It will report back to the US SEC (Securities Exchange Commission) on its FCPA (Foreign Corrupt Practices Act) compliance efforts for the next two years. Here are some excerpts from SEC's press release on this settlement: *According to the SEC’s order instituting a settled administrative proceeding, the Springfield, Mass.-based firearms manufacturer sought to break into new markets overseas starting in 2007 and continuing into early 2010. Dpakistanblogs.blogspot.comRead Full Post
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