Defendant Name: Telefônica Brasil S.A. 

Defendant Type: Public Company
SIC Code: 4813
CUSIP: 87936R106

Initial Case Details

Legal Case Name In the Matter of Telefônica Brasil S.A. 
First Document Date 09-May-2019
Initial Filing Format Administrative Action
File Number 3-19162
Allegation Type Foreign Corrupt Practices Act
AAER 4046

Violations Alleged

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

Resolutions

First Resolution Date 09-May-2019
Headline Total Penalty and Disgorgement $4,125,000

Related Documents:

34-85819 09-May-2019 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
The Commission stated: "These proceedings arise out of Telefônica Brasil’s violations of the internal accounting controls and recordkeeping provisions of the Foreign Corrupt Practices Act of 1977. [...] Telefônica Brasil failed to devise and maintain sufficient internal accounting controls over a hospitality program that the company hosted in connection with the 2014 World Cup and 2013 Confederations Cup."
34-85819-s 09-May-2019 Administrative Summary
SEC Charges Telefônica Brasil S.A. with Violating Books and Records and Internal Accounting Controls Provisions of the FCPA
The Commission stated: " The Securities and Exchange Commission today charged Telefônica Brasil S.A., a Brazilian telecommunications company, for violating the books and records and the internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA)."