Defendant Name: Novartis AG

Defendant Type: Public Company

Document Reference: 2020-144

Document Details

Legal Case Name In the Matter of Novartis AG
Document Name SEC Charges Novartis AG with FCPA Violations
Document Date 25-Jun-2020
Document Format Administrative Proceeding
File Number 3-19835
Allegation Type Foreign Corrupt Practices Act
Document Summary The Commission stated: "Novartis AG, a global pharmaceutical and healthcare company headquartered in Basel, Switzerland, has agreed to pay over $112 million to settle charges that it violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA)."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Monetary Penalties:

Disgorgement

Individual:     $92,300,000.00 Shared:    

Pre-Judgment Interest

Individual:     $20,500,000.00 Shared:    

Related Documents:

34-89149 25-Jun-2020 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
On June 25, 2020, the SEC instituted settled cease-and-desist proceedings against Novartis AG. The SEC stated: "These proceedings arise out of improper activities by subsidiaries and affiliates of Novartis AG, a global pharmaceutical and healthcare company headquartered in Basel, Switzerland, to increase the use of products in several geographic markets between 2012 and 2016."