Defendant Name:
Johnson Controls, Inc.
Defendant Type:
Public Company
SIC Code:
2531
CUSIP:
47836610
Document Reference:
34-78287
Document Details
Legal Case Name
In the Matter of Johnson Controls, 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 Order
Document Date
11-Jul-2016
Document Format
Administrative Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On July 11, 2016, the SEC instituted a settled administrative proceeding against Johnson Controls, Inc. ("JCI"). According to the SEC, JCI - through its subsidiary, China Marine - "made payments to sham vendors. The improper vendor payments were improperly recorded on JCI's books and records, and JCI failed to devise and maintain a system of internal accounting controls sufficient to provide reasonable assurances to detect and prevent such payments."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:
Disgorgement
Individual:
$11,800,000.00
Shared:
Civil Penalty
Individual:
$1,180,000.00
Shared:
Pre-Judgment Interest
Individual:
$1,382,561.00
Shared:
Total Penalty
Individual:
$14,362,561.00
Shared:
