Defendant Name:
SciClone Pharmaceuticals, Inc.
Defendant Type:
Public Company
SIC Code:
2830
CUSIP:
80862K10
Document Reference:
34-77058
Document Details
Legal Case Name
In the Matter of SciClone Pharmaceuticals, Inc.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Cease-and-Desist Order
Document Date
04-Feb-2016
Document Format
Administrative Proceeding
AAER
3739
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On February 4, 2016, the SEC instituted settled cease-and-desist proceedings against SciClone Pharmaceuticals, Inc. According to the SEC: "These proceedings arise out of violations of the anti-bribery, books and records and internal accounting controls provisions of Foreign Corrupt Practices Act of 1977 (the 'FCPA') [15 U.S.C. § 78dd] by SciClone concerning its pharmaceutical operations in China. From at least 2007 to 2012, employees of SciClone subsidiaries, who acted as agents of SciClone in conducting business in China, gave money, gifts and other things of value to foreign officials, including healthcare professionals ('HCPs') who were employed by state-owned hospitals in China, in order to obtain sales of SciClone pharmaceutical products. Various means were employed, and these schemes were known to and condoned by various managers within SciClone's China-based corporate structure. The related transactions were falsely recorded in SciClone's books and records as legitimate business expenses, such as sponsorships, travel and entertainment, conferences, honoraria, and promotion expenses. During this period, SciClone also failed to devise and maintain a sufficient system of internal accounting controls and lacked an effective anti-corruption compliance program."
Disgorgement & Penalty Information
Resolutions
Other Compliance Related Undertaking
Various Unertakings
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$9,426,000.00
Shared:
Civil Penalty
Individual:
$2,500,000.00
Shared:
Pre-Judgment Interest
Individual:
$900,000.00
Shared:
