Juniper Networks pays SEC $11.7 million to settle FCPA violations
Juniper Networks
paid the SEC $11.7 million Thursday to settle FCPA offenses related to its sales practices in Russia and China.
The American technology company
disgorged $4 million and paid a $6.5 million penalty to the SEC, plus pre-judgment interest of $1.3 million.
Juniper first disclosed the FCPA-related investigation in an SEC filing in August 2013.
In an internal administrative order (pdf), the SEC
charged Juniper with violating the FCPA’s books and records and internal accounting controls provisions.
Juniper said earlier that in late 2017 the DOJ notified it “that the DOJ has closed its investigation related to these matters without taking any action” against the company.
From 2008 through 2013,
sales employees of the Russian Juniper subsidiary, JNN Development Corp. (JNN),
secretly agreed with third party partners to increase the discount on sales without passing those discounts on to customers. The off-book funds were referred to as “common funds” and were directed partially by JNN sales reps.
Use of the “common funds” included travel for foreign officials to various locations where there were no Juniper facilities or industry conferences related to Juniper’s business, the SEC said.
The FCPA Blog