Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Philips N.V.
Current Parent Company: Royal Philips
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $62,000,000
Year: 2023
Date: May 11, 2023
Offense Group: competition-related offenses
Primary Offense: Foreign Corrupt Practices Act
Secondary Offense: kickbacks and bribery
Mega-Scandal: Foreign Bribery
Violation Description: The Securities and Exchange Commission announced that Amsterdam-based Koninklijke Philips N.V. will pay more than $62 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) with respect to conduct related to its sales of medical diagnostic equipment in China.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Netherlands
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: diversified
Specific Industry of Current Parent: diversified
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.