Honeywell said it has agreed to resolutions with the Department of Justice, Securities and Exchange Commission, and the Brazilian authorities to resolve previously disclosed anti-corruption investigations into the company’s historical operations in Brazil in relation to Petrobras (PBR) and, with respect to the SEC resolution, also relating to historical conduct involving the intermediary, Unaoil. In connection with the resolutions, the company will pay a total of $202.7M in penalties, disgorgement, and prejudgment interest. As part of the resolutions, Honeywell’s subsidiary, UOP, LLC, has entered into a three-year deferred prosecution agreement with the DOJ related to charges of conspiracy to violate the Foreign Corrupt Practices Act in connection with a project awarded in 2010. Honeywell noted the matters have been fully reserved and no additional financial impact has occurred as a result of these resolutions.
Published first on TheFly
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