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Jan. 23, 2019

C-Suite Accountability: Former Panasonic Avionics CEO and CFO Make a Deal with the SEC

  • Lori Tripoli
    Anti-Corruption Report
The SEC’s pursuit of two former Panasonic Avionics Corporation executives for books-and-records and accounting controls infractions seems to indicate that the Commission, like the DOJ, has an interest in holding individuals, particularly high-level ones, accountable for corporate wrongdoing. But the penalties the former CEO and former CFO of Panasonic Avionics will have to pay (a total of $125,000 combined) relative to the money their former employer was obligated to ante up ($280 million) might leave some wondering about whether the federal government is really committed to punishing individuals and not just the corporations for which they worked. See “Big Deals? Panasonic and Subsidiary Settle FCPA and Exchange Act Charges for $280 Million” (May 16, 2018).

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