Defendant Name: Koninklijke Philips N.V.

Defendant Type: Public Company
SIC Code: 3845
CUSIP: 50047230

Initial Case Details

Legal Case Name In the Matter of Koninklijke Philips Electronics N.V.
First Document Date 05-Apr-2013
Initial Filing Format Administrative Action
File Number 3-15265
Allegation Type Foreign Corrupt Practices Act
AAER 3452

Violations Alleged

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

Resolutions

First Resolution Date 05-Apr-2013
Headline Total Penalty and Disgorgement $4,515,178

Related Documents:

34-69327 05-Apr-2013 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 Disgorgement
On April 5, 2013, the SEC issued an order instituting cease-and-desist proceedings pursuant to Section 21C of the Exchange Act against Koninklijke Philips Electronics N.V. for FCPA violations. 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 Philips. The violations took place through Philips's operations in Poland from at least 1999 through 2007. The violations relate to improper payments made by employees of Philips's Polish subsidiary, Philips Polska sp. z o.o. ('Philips Poland') to healthcare officials in Poland regarding public tenders proffered by Polish healthcare facilities to purchase medical equipment." On April 5, 2013, the SEC announced that it had accepted Koninklijke Philips Electronics N.V.'s offer of settlement and imposed a cease-and-desist order and disgorgement.