Defendant Name: Clear Channel Outdoor Holdings, Inc.

Defendant Type: Public Company

Document Reference: 2023-206

Document Details

Legal Case Name In the Matter of Clear Channel Outdoor Holdings, Inc.
Document Name SEC Charges Clear Channel Outdoor with FCPA Violations Relating to China Subsidiary
Document Date 28-Sep-2023
Document Format Administrative Proceeding
File Number 3-21755
Allegation Type Foreign Corrupt Practices Act
Document Summary On September 28, 2023, the SEC "announced that Clear Channel Outdoor Holdings Inc. agreed to pay more than $26 million to resolve charges that it bribed Chinese government officials to obtain outdoor advertising contracts in violation of the Foreign Corrupt Practices Act (FCPA)."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Disgorgement

Individual:     $20,100,000.00 Shared:    

Civil Penalty

Individual:     $6,000,000.00 Shared:    

Pre-Judgment Interest

(Penalty was noted in document, but no amount was listed)

Total Penalty

Individual:     $26,000,000.00 Shared:    

Related Documents:

34-98615 28-Sep-2023 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 September 28, 2023, the SEC instituted settled cease-and-desist proceedings against Clear Channel Outdoor Holdings, Inc., stating: "This matter concerns violations of the anti-bribery, recordkeeping, and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 (“FCPA”) by Clear Channel Outdoor Holdings, Inc. (“CCOH”), a Texas-headquartered company in the out-of-home advertising industry, in connection with the actions of its agent, CCOH’s former indirect, majority-owned Chinese subsidiary, Clear Media Limited (“Clear Media”)."