Ericsson announced that it has agreed with the U.S. Department of Justice, or DOJ, and Securities and Exchange Commission, or SEC, to extend the term of the company’s Independent Compliance Monitor for one year, to June 2024. In 2019 Ericsson entered into a Deferred Prosecution Agreement, or DPA, with the DOJ and a Consent Judgment with the SEC to resolve violations of the FCPA. As part of the resolution, Ericsson agreed to engage an independent compliance monitor for a period of three years while the company strengthened its culture and established a rigorous anti-corruption, compliance and controls program. This extension will allow the company, under the monitorship, to further embed best in class governance, risk management and compliance frameworks across the organization. The company remains committed to cooperating with the DOJ in connection with the resolution of the breach notification.
Published first on TheFly
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