Defendant Name:
LAN Airlines S.A.
Defendant Type:
Public Company
SIC Code:
4512
CUSIP:
50172310
Document Reference:
34-78402
Document Details
Legal Case Name
In the Matter of LAN Airlines S.A.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 9134, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
25-Jul-2016
Document Format
Administrative Proceeding
AAER
3792
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On July 25, 2016, the SEC instituted a settled administrative proceeding against LAN Airlines S.A. According to the SEC, in 2006 and 2007 LAN authorized $1.15 million in improper payments to officials in Argentina. "The payments were improperly booked in LAN's books and records, which circumvented LAN's internal accounting controls".
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Compliance Related Independent Consultant
Other Compliance Related Undertaking
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$6,743,932.00
Shared:
Pre-Judgment Interest
Individual:
$2,693,856.00
Shared:
Total Penalty
Individual:
$9,437,788.00
Shared:
