Defendant Name:
Westport Fuel Systems, Inc.
Defendant Type:
Public Company
SIC Code:
6220
CUSIP:
96090830
Document Reference:
34-87138
Document Details
Legal Case Name
In the Matter of Westport Fuel Systems, Inc. and Nancy Gougarty
Document Name
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
Document Date
27-Sep-2019
Document Format
Administrative Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On September 27, 2019, the SEC instituted settled cease and desist proceedings against Westport Fuel Systems, Inc. ("Westport") and Nancy Gougarty ("Gougarty") (collectively, "Respondents"). The SEC stated: "This matter concerns violations of the anti-bribery, books and records, and internal controls provisions of the Foreign Corrupt Practices Act ("FCPA") by Westport Fuel Systems, Inc., a Canadian clean fuel technology company headquartered in Vancouver, Canada, and its former Chief Executive Officer, Nancy Gougarty."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$2,350,000.00
Shared:
Civil Penalty
Individual:
$1,500,000.00
Shared:
Pre-Judgment Interest
Individual:
$196,000.00
Shared:
Total Penalty
Individual:
$4,046,000.00
Shared:
Other Defendants in Action:
