Loading ...The U.S. Securities and Exchange Commission has fined Kinross Gold Corp. $950,000 for violations of the Foreign Corrupt Practices Act. (All figures are in U.S. dollars.) The SEC cites payments, some in cash, to individuals linked to governments in Mauritania and Ghana. Among other things, the company paid $50-million to a government-preferred shipper that turned out to be inept and $715,000 to establish a “semi-formal liaison” with the government, the SEC claims.
The sanction for Kinross is contained in an administrative order handed down on Monday, March 26. In addition to the fine, the SEC has ordered the company to implement procedures that will prevent future violations. Kinross accepted the sanctions to settle the case, without admitting any wrongdoing.
cont. https://www.stockwatch.com/News/Item.aspx?bid=Z-C:K-2585981&symbol=K®ion=C