Defendant Name:
Tenaris S.A.
Defendant Type:
Public Company
SIC Code:
3312
CUSIP:
88031M10
Document Reference:
34-95030
Document Details
Legal Case Name
In the Matter of Tenaris 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 a Cease-and-Desist Order
Document Date
02-Jun-2022
Document Format
Administrative Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On June 2, 2022, the SEC instituted settled administrative and cease-and-desist proceedings against Tenaris S.A. stating: "This matter concerns violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 ("FCPA") by Tenaris, as a result of a bribe scheme involving agents and employees of its Brazilian subsidiary to obtain and retain business from a Brazil state-owned entity ("SOE") Petróleo Brasileiro S.A. ("Petrobras")."
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:
$42,842,497.00
Shared:
Civil Penalty
Individual:
$25,000,000.00
Shared:
Pre-Judgment Interest
Individual:
$10,257,841.00
Shared:
