SEC Sanctions Two FLIR Systems Employees for Bribing Saudi Officials

Two former employees of FLIR Systems, Inc., an Oregon-based defense contractor, sent Saudi Arabian officials on a 20-day, self-described “world tour” and bought them luxury watches to retain business, the SEC says.  When the expenses were flagged by FLIR, the employees covered them up.  In its first administrative action sanctioning individuals for FCPA violations since 2012, the SEC fined one employee $50,000 and the other $20,000 for their actions.  The investigation is continuing.  William Michael, a partner at Mayer Brown, shared his views on the case with The FCPA Report.  See also “Four Hallmarks of Permissible Gifts and Entertainment: Insight from PepsiCo and Paul Hastings,” The FCPA Report, Vol. 3, No. 2 (Jan. 22, 2014). 

To read the full article

Continue reading your article with an ACR subscription.