Defendant Name: Allianz SE

Defendant Type: Public Company
SIC Code: 6411
CUSIP: 01880510

Initial Case Details

Legal Case Name In the Matter of Allianz SE
First Document Date 17-Dec-2012
Initial Filing Format Administrative Action
File Number 3-15132
Allegation Type Foreign Corrupt Practices Act

Violations Alleged

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

Resolutions

First Resolution Date 17-Dec-2012
Headline Total Penalty and Disgorgement $12,396,423

Related Documents:

34-68448 17-Dec-2012 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 and Civil Penalty
On December 17, 2012 the Commission accepted respondent's settlement offer and imposed a cease-and-desist order and civil penalty. The SEC alleged that Allianz SE violated the Foreign Corrupt Practices Act through the actions of its Indonesian majority-owned subsidiary, PT Asuransi Allianz Utama. According to the SEC, "Utama managers made improper payments to employees of state-owned entities in Indonesia in order to obtain and retain business.... As a result of improper payments of approximately $650,626 to agents and employees of state-owned entities and others, Allianz realized $5,315,649 in profits."
2012-266 17-Dec-2012 Press Release--Administrative Proceeding
SEC Charges Germany-Based Allianz SE with FCPA Violations
On December 17, 2012, the SEC announced that it charged Germany-based insurance and asset management company Allianz SE ("Allianz") with violating the books and records and internal controls provisions of the Foreign Corrupt Practices Act ("FPCA") for improper payments to government officials in Indonesia during a seven-year period. According to the SEC's order instituting settled administrative proceedings against Allianz, the misconduct occurred from 2001 to 2008 while the company's shares and bonds were registered with the SEC and traded on the New York Stock Exchange. The SEC's order found that Allianz violated the books and records and internal controls provisions of the FCPA. Without admitting or denying the findings, Allianz agreed to cease and desist from further violations and pay more than $12.3 million to settle the SEC's charges.