Defendant Name:
Nordion (Canada) Inc.
Defendant Type:
Public Company
SIC Code:
3826
CUSIP:
65563C10
Document Reference:
34-77290
Document Details
Legal Case Name
In the Matter of Nordion (Canada) Inc.
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 Orde
Document Date
03-Mar-2016
Document Format
Administrative Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On March 3, 2016, the SEC instituted settled cease-and-desist proceedings against Nordion (Canada) Inc. According to the SEC: "From at least 2004 through 2011, Nordion, Inc. ('Nordion'), a global health science company, violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 ('FCPA') in connection with payments made to a third party agent to obtain Russian government approval to distribute TheraSphere, Nordion's liver cancer treatment, in Russia. Nordion failed to record those payments in a manner that accurately and fairly reflected the transactions in its books and records. Nordion also failed to devise and maintain adequate internal accounting controls to provide sufficient reassurances that Nordion funds were used as authorized, that third-party agents were appropriately vetted, and that Nordion adequately trained its employees to conduct business in countries with significant corruption risks." The SEC stated that: "Respondent acknowledges that the Commission is not imposing a civil penalty in excess of $375,000 based upon its and Nordion's cooperation in a Commission investigation and related enforcement action."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:
Civil Penalty
Individual:
$375,000.00
Shared:
