SAP SE

Why it is here

U.S. Securities and Exchange Commission (FCPA) — SEC FCPA enforcement action resolved: cease-and-desist order (anti-bribery, recordkeeping and internal accounting controls) (SEC order: from at least December 2014 through January 2022 SAP employed third-party intermediaries and consultants to pay bribes to government officials to obtain business with public sector customers in South Africa, Malawi, Kenya, Tanzania, Ghana, Indonesia and Azerbaijan, and recorded the bribes as legitimate business expenses · disgorgement of $85 million plus prejudgment interest of more than $13.4 million · press release 2024-4), from 10 January 2024.

Enforcement action of the U.S. Securities and Exchange Commission under the Foreign Corrupt Practices Act, resolved against the company.

Details

Company

SAP SE

Authority

U.S. Securities and Exchange Commission (FCPA)

Decision

SEC FCPA enforcement action resolved: cease-and-desist order (anti-bribery, recordkeeping and internal accounting controls)

Grounds and details, as published

SEC order: from at least December 2014 through January 2022 SAP employed third-party intermediaries and consultants to pay bribes to government officials to obtain business with public sector customers in South Africa, Malawi, Kenya, Tanzania, Ghana, Indonesia and Azerbaijan, and recorded the bribes as legitimate business expenses · disgorgement of $85 million plus prejudgment interest of more than $13.4 million · press release 2024-4

From

10 January 2024

Until

—

Status

End date not published

Source

https://www.sec.gov/newsroom/press-releases/2024-4

Licence

Public domain (U.S. Government work)