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Company: Tenaris
Current Parent Company:
Techint
Parent at the Time of the Penalty Announcement:
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Penalty: $78,000,000
Year: 2022
Date: June 2, 2022
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 Tenaris, a Luxembourg-based global manufacturer and supplier of steel pipe products, will pay more than $78 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) in connection with a bribery scheme involving its Brazilian subsidiary.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Italy
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: diversified
Specific Industry of Current Parent: diversified
Source of Data:
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
Update Log.
