Defendant Name: Novartis AG

Defendant Type: Public Company
SIC Code: 2834
CUSIP: 66987V10

Initial Case Details

Legal Case Name In the Matter of Novartis AG
First Document Date 25-Jun-2020
Initial Filing Format Administrative Action
File Number 3-19835
Allegation Type Foreign Corrupt Practices Act
AAER 4150

Violations Alleged

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

Resolutions

First Resolution Date 25-Jun-2020
Headline Total Penalty and Disgorgement $112,800,000

Related Documents:

34-89149 25-Jun-2020 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 June 25, 2020, the SEC instituted settled cease-and-desist proceedings against Novartis AG. The SEC stated: "These proceedings arise out of improper activities by subsidiaries and affiliates of Novartis AG, a global pharmaceutical and healthcare company headquartered in Basel, Switzerland, to increase the use of products in several geographic markets between 2012 and 2016."
2020-144 25-Jun-2020 Press Release--Administrative Proceeding
SEC Charges Novartis AG with FCPA Violations
The Commission stated: "Novartis AG, a global pharmaceutical and healthcare company headquartered in Basel, Switzerland, has agreed to pay over $112 million to settle charges that it violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA)."