• SEC Enters Into Its First FCPA Non-Prosecution Agreement
  • April 26, 2013 | Authors: Brian D. Frey; Edward T. Kang
  • Law Firm: Alston & Bird LLP - Washington Office
  • On April 22, the Securities and Exchange Commission (SEC) announced that it had entered into a nonprosecution agreement (NPA) with Ralph Lauren Corp. to resolve alleged violations of the Foreign Corrupt Practices Act by a wholly owned Argentinian subsidiary of the company. The NPA was the first ever entered into by the SEC in an FCPA matter. Ralph Lauren also entered into an NPA with the Department of Justice related to the same conduct. As part of the agreements, the company agreed to pay $1.6 million in total penalties, disgorgement and interest.