Defendant Name: Nordion (Canada) Inc.

Defendant Type: Public Company
SIC Code: 3826
CUSIP: 65563C10

Initial Case Details

Legal Case Name In the Matter of Nordion (Canada) Inc.
First Document Date 03-Mar-2016
Initial Filing Format Administrative Action
File Number 3-17153
Allegation Type Foreign Corrupt Practices Act

Violations Alleged

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


First Resolution Date 03-Mar-2016
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

34-77290 03-Mar-2016 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 Orde
On March 3, 2016, the SEC instituted settled cease-and-desist proceedings against Nordion (Canada) Inc. According to the SEC: "From at least 2004 through 2011, Nordion, Inc. ('Nordion'), a global health science company, violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 ('FCPA') in connection with payments made to a third party agent to obtain Russian government approval to distribute TheraSphere, Nordion's liver cancer treatment, in Russia. Nordion failed to record those payments in a manner that accurately and fairly reflected the transactions in its books and records. Nordion also failed to devise and maintain adequate internal accounting controls to provide sufficient reassurances that Nordion funds were used as authorized, that third-party agents were appropriately vetted, and that Nordion adequately trained its employees to conduct business in countries with significant corruption risks." The SEC stated that: "Respondent acknowledges that the Commission is not imposing a civil penalty in excess of $375,000 based upon its and Nordion's cooperation in a Commission investigation and related enforcement action."

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