Wednesday, October 20, 2021

Advertising group WPP to pay $19 million to settle anti-bribery charges, says U.S. SEC

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Stock Markets33 minutes ago (Sep 24, 2021 09:41AM ET)

(C) Reuters. FILE PHOTO: Branding signage for WPP, the largest global advertising and public relations agency at their offices in London, Britain, July 17, 2019. REUTERS/Toby Melville/File Photo

(Reuters) – The U.S. Securities and Exchange Commission said on Friday that WPP Plc (LON:WPP), the world’s largest advertising firm, has agreed to pay more than $19 million to resolve charges, without admitting or denying the regulator’s findings.

WPP agreed to cease and desist from committing violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act, the SEC said. The company will pay $10.1 million in disgorgement, $1.1 million in prejudgment interest, and an $8 million penalty.

Advertising group WPP to pay $19 million to settle anti-bribery charges, says U.S. SEC

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