Defendant Name:
Bristol-Myers Squibb Company
Defendant Type:
Public Company
SIC Code:
2834
CUSIP:
11012210
Document Reference:
34-76073
Document Details
Legal Case Name
In the Matter of Bristol-Myers Squibb Company
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
05-Oct-2015
Document Format
Administrative Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On October 5, 2015, the SEC instituted settled cease-and-desist proceedings against Bristol-Myers Squibb Company (BMS). The SEC alleged that: "These proceedings arise out of violations of the internal controls and recordkeeping provisions of the Foreign Corrupt Practices Act (the 'FPCA') by BMS and its majority-owned joint venture in China. Between 2009 and 2014, BMS failed to design and maintain effective internal controls relating to interactions with health care providers ('HCPs') at state-owned and state-controlled hospitals in China."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Various undertakings
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$11,442,000.00
Shared:
Civil Penalty
Individual:
$2,750,000.00
Shared:
Pre-Judgment Interest
Individual:
$500,000.00
Shared:
