Defendant Name: Tenaris S.A.

Defendant Type: Public Company

Document Reference: 2022-98

Document Details

Legal Case Name In the Matter of Tenaris S.A.
Document Name SEC Charges Global Steel Pipe Manufacturer with Violating Foreign Corrupt Practices Act
Document Date 02-Jun-2022
Document Format Administrative Proceeding
File Number 3-20875
Allegation Type Foreign Corrupt Practices Act
Document Summary The SEC stated that: "Tenaris, a Luxembourg-based global manufacturer and supplier of steel pipe products, will pay more than $78 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) in connection with a bribery scheme involving its Brazilian subsidiary."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:

Total Penalty

Individual:     $78,000,000.00 Shared:    

Related Documents:

34-95030 02-Jun-2022 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 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")."