Defendant Name: ALCOA INC.

Defendant Type: Public Company
SIC Code: 3334
CUSIP: 01381710

Initial Case Details

Legal Case Name In the matter of Alcoa Inc.
First Document Date 09-Jan-2014
Initial Filing Format Administrative Action
File Number 3-15673
Allegation Type Foreign Corrupt Practices Act
AAER 3525

Violations Alleged

Exchange Act
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 30A

Resolutions

First Resolution Date 09-Jan-2014
Headline Total Penalty and Disgorgement $175,000,000

Related Documents:

34-71261 09-Jan-2014 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On January 9, 2014, the SEC published an order instituting cease-and-desist proceedings against Alcoa Inc. according to the SEC "these proceedings arise from violations of the Foriegn Corrupt Practices Act of 1977."
2014-3 09-Jan-2014 Press Release--Administrative Proceeding
SEC Charges Alcoa With FCPA Violations
On January 9, 2014, the SEC announced that it charged global aluminum producer Alcoa Inc. ("Alcoa") with violating the Foreign Corrupt Practices Act when its subsidiaries repeatedly paid bribes to government officials in Bahrain to maintain a key source of business. An SEC investigation found that more than $110 million in corrupt payments were made to Bahraini officials with influence over contract negotiations between Alcoa and a major government-operated aluminum plant. According to the SEC's order instituting settled administrative proceedings, Alcoa lacked sufficient internal controls to prevent and detect the bribes, which were improperly recorded in Alcoa's books and records as legitimate commissions or sales to a distributor.