Defendant Name: Watts Water Technologies, Inc.

Defendant Type: Public Company
SIC Code: 3491
CUSIP: 94274910

Initial Case Details

Legal Case Name In the Matter of Watts Water Technologies, Inc. and Leesen Chang
First Document Date 13-Oct-2011
Initial Filing Format Administrative Action
File Number 3-14585
Allegation Type Foreign Corrupt Practices Act
AAER 3328

Violations Alleged

Exchange Act
Sec 13(b)(2)(A)
Sec 13(b)(2)(B)
Additionally, Leesen Chang is alleged to have caused Watts Water Technologies, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Leesen Chang is alleged to have caused Watts Water Technologies, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.


First Resolution Date 13-Oct-2011
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

34-65555 13-Oct-2011 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Cease-and-Desist Orders and Civil Penalties
On October 13, 2011, the Commission accepted the respondents offer of settlement and imposed cease-and-desist orders and civil penalties. According to the SEC: "This matter concerns violations of the books and records and internal controls provisions of the Foreign Corrupt Practices Act ('FCPA') by Watts Water Technologies, Inc ('Watts') and Leesen Chang ('Chang'). The violations took place at Watts Valve Changsha Co., Ltd., ('CWV') a wholly-owned Chinese subsidiary that Watts established in November 2005 to purchase the assets and businesses of Changsha Valve Works 'Changsha Valve').... Employees of CWV made improper payments to employees of certain design institutes. The purpose and effect of those payments was to influence the design institutes to recommend CWV valve products to Project [state-owned entities] and to create design specifications that favored CWV valve products. CWV's improper payments generated projects for Watts of more than $2.7 million."

Other Defendants in Action: