SEC Bribery Unit Probes Technology Companies’ Use of Contractors
- SEC seeking details from tech firms on their intermediaries
- Focus is on distributors across Asia, Latin America, Africa
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The US Securities and Exchange Commission is asking publicly traded tech companies about their relationships with distributors and other business partners outside the US in a push to root out possible corruption, according to people familiar with the matter.
The SEC started sending letters to the firms earlier this year under its mandate to enforce the Foreign Corrupt Practices Act, which makes it a crime to offer anything of value to non-US officials in an effort to win business.