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Wireless

Qualcomm settles US corruption investigation

Wednesday 2 March 2016 | 08:36 CET | News
Qualcomm has settled with the US Securities and Exchange Commission (SEC) over an investigation into possible violations of the Foreign Corrupt Practices Act. Without admitting or denying the SEC's findings, Qualcomm has agreed to pay a civil penalty of USD 7.5 million to resolve this matter. Qualcomm stressed that "this is not a criminal action", and the US Department of Justice also recently closed its investigation into the matter without taking any action. The SEC's investigation centred on activities before 2012 in China, when Qualcomm gave employees of state-owned entities or government

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Categories: Mobile & Wireless
Companies: Qualcomm
Countries: United States
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