Defendant Name:
Telefônica Brasil S.A.
Defendant Type:
Public Company
SIC Code:
4813
CUSIP:
87936R106
Document Reference:
34-85819
Document Details
Legal Case Name
In the Matter of Telefônica Brasil S.A.
Document Name
Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
09-May-2019
Document Format
Administrative Proceeding
AAER
4046
Allegation Type
Foreign Corrupt Practices Act
Document Summary
The Commission stated: "These proceedings arise out of Telefônica Brasil’s violations of the internal accounting controls and recordkeeping provisions of the Foreign Corrupt Practices Act of 1977. [...] Telefônica Brasil failed to devise and maintain sufficient internal accounting controls over a hospitality program that the company hosted in connection with the 2014 World Cup and 2013 Confederations Cup."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$4,125,000.00
Shared: