国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Companies

Avon pays fine of $135m to settle bribery allegations

(Agencies) Updated: 2014-12-19 09:04

Avon pays fine of $135m to settle bribery allegations

The Avon Products headquarters is seen in midtown Manhattan area of New York in this June 21, 2013 file photo. [Photo/Agencies]

US authorities on Wednesday fined international cosmetics seller Avon Products $135 million to settle a corruption probe in China.

The global beauty supplier, known for its door-to-door and catalog sales, bribed local officials with foreign travel and expensive trinkets such as Gucci bags and Louis Vuitton merchandise, the US Securities and Exchange Commission said in a statement.

The SEC said Avon had violated the Foreign Corrupt Practices Act by failing to stop bribes to Chinese officials.

"The SEC alleges that Avon's subsidiary in China made $8 million worth of payments in cash, gifts, travel and entertainment to gain access to Chinese officials implementing and overseeing direct selling regulations in China," the SEC said.

Avon was trying to be among the first to test the regulations, and eventually received the first direct selling business license in China in March 2006, the SEC said.

"Avon missed an opportunity to correct potential FCPA problems at its subsidiary, resulting in years of additional misconduct that could have been avoided," said Scott Friestad, an associate director in the SEC's enforcement division.

US media reported that Avon, founded in 1886, pleaded guilty at a federal court in New York on Wednesday to conspiring to violate the FCPA.

In reaching the proposed settlement, the SEC considered Avon's "cooperation and significant remedial measures," the SEC said.

In addition to the financial penalty, Avon is required to retain an independent monitor to review its compliance program with the FCPA for 18 months.

Avon is struggling in the wake of the economic slowdown in Brazil and Russia, its two main markets.

Hot Topics

Editor's Picks
...
民乐县| 泰顺县| 眉山市| 和龙市| 霍山县| 桦川县| 涞源县| 巍山| 温宿县| 白河县| 荣昌县| 台前县| 绍兴市| 台湾省| 芦山县| 昌邑市| 鄂托克前旗| 剑川县| 湛江市| 赣榆县| 南和县| 崇州市| 安庆市| 离岛区| 宁阳县| 涞水县| 眉山市| 巴彦县| 遂宁市| 常山县| 高陵县| 卢湾区| 梓潼县| 卢龙县| 恩平市| 杭锦后旗| 宜州市| 循化| 榆树市| 东安县| 双柏县|