Defendant Name: Stericycle, Inc.

Defendant Type: Public Company
SIC Code: 4950
CUSIP: 85891210

Initial Case Details

Legal Case Name In the Matter of Stericycle, Inc.
First Document Date 20-Apr-2022
Initial Filing Format Administrative Action
File Number 3-20826
Allegation Type Foreign Corrupt Practices Act

Violations Alleged

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

Resolutions

First Resolution Date 20-Apr-2022
Headline Total Penalty and Disgorgement $28,200,000

Related Documents:

34-94760 20-Apr-2022 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 April 20, 2022, the SEC instituted cease-and-desist proceedings against Stericycle, Inc., stating: "This matter concerns violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 (the "FCPA") . . . by Stericycle, a world-wide provider of medical waste and other services. From at least 2012 to 2016, Stericycle paid millions of dollars in the form of hundreds of bribe payments to obtain and maintain business from government customers in Brazil, Mexico, and Argentina, as well as to obtain authorization for priority release of payments owed under government contracts. The improper payments were not accurately reflected in Stericycle's books and records, and Stericycle failed to have sufficient internal accounting controls in place to detect or prevent the misconduct. As a result of these violations, Stericycle benefitted by approximately $22.2 million."
2022-65 20-Apr-2022 Press Release--Administrative Proceeding
SEC Charges Stericycle with Bribery Schemes in Latin America
The SEC "announced charges against Stericycle, Inc. for violations of the Foreign Corrupt Practices Act (FCPA) arising out of bribery schemes that took place in Argentina, Brazil, and Mexico. The company has agreed to pay more than $84 million to settle parallel civil and criminal charges related to these schemes, including nearly $28.2 million to settle the SEC’s charges."