Defendant Name:
Allianz SE
Defendant Type:
Public Company
SIC Code:
6411
CUSIP:
01880510
Document Reference:
34-68448
Document Details
Legal Case Name
In the Matter of Allianz SE
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 and Civil Penalty
Document Date
17-Dec-2012
Document Format
Administrative Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On December 17, 2012 the Commission accepted respondent's settlement offer and imposed a cease-and-desist order and civil penalty. The SEC alleged that Allianz SE violated the Foreign Corrupt Practices Act through the actions of its Indonesian majority-owned subsidiary, PT Asuransi Allianz Utama. According to the SEC, "Utama managers made improper payments to employees of state-owned entities in Indonesia in order to obtain and retain business.... As a result of improper payments of approximately $650,626 to agents and employees of state-owned entities and others, Allianz realized $5,315,649 in profits."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$5,315,649.00
Shared:
Civil Penalty
Individual:
$5,315,649.00
Shared:
Pre-Judgment Interest
Individual:
$1,765,125.00
Shared:
