Defendant Name:
Qualcomm Incorporated
Defendant Type:
Public Company
SIC Code:
3663
CUSIP:
74752510
Document Reference:
34-77261
Document Details
Legal Case Name
In the Matter of Qualcomm Incorporated
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
01-Mar-2016
Document Format
Administrative Proceeding
AAER
3751
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On March 1, 2016, the SEC instituted settled cease-and-desist proceedings against Qualcomm Incorporated. According to the SEC: "This matter concerns Qualcomm's violations of the anti-bribery, books and records, and internal controls provisions of the Foreign Corrupt Practices Act ('FCPA'). From 2002 through 2012, Qualcomm provided things of value to foreign officials -- including highranking employees of state owned enterprises ('SOEs') and government ministers -- to try to influence these decision makers to favor and/or promote Qualcomm-developed technology in an evolving international telecommunications market, thereby providing Qualcomm with a business advantage." Qualcomm's FCPA violations allegedly involved state owned enterprises and government officials in China.
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Various compliance related obligations
Monetary Penalties:
Civil Penalty
Individual:
$7,500,000.00
Shared:
