Defendant Name:
Bio-Rad Laboratories, Inc.
Defendant Type:
Public Company
Document Reference:
2014-245
Document Details
Legal Case Name
In the Matter of Bio-Rad Laboratories, Inc.
Document Name
SEC Charges California-Based Bio-Rad Laboratories With FCPA Violations
Document Date
03-Nov-2014
Document Format
Administrative Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On November 3, 2014 the SEC charged Bio-Rad Laboratories with violations of the FCPA arising from improper payments to foreign officials in Russia, Vietnam, and Thailand. According to the Commission, "Bio-Rad Laboratories lacked sufficient internal controls to prevent or detect approximately $7.5 million in bribes that were paid during a five-year period and improperly recorded in books and records as legitimate expenses...." Bio-Rad, self-reported the misconduct and cooperated with the SEC.
Disgorgement & Penalty Information
Resolutions
Bio-Rad must report its FCPA compliance efforts to the SEC for 2 years.
Cooperation Before the Resolution
Self Reporting to SEC