Gartner to Pay SEC Over $2.5 Million to Settle FCPA Charges
Technological research firm Gartner settled charges that it violated the Foreign Corrupt Practices Act, agreeing to pay over $2.5 million, the SEC said in a May 26 order implementing cease-and-desist proceedings. The company allegedly bribed officials of the South Africa…
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Revenue Service (SARS) to "obtain and retain business from" SARS. The SEC said a manager of Gartner's consulting wing authorized the firm to enter into subcontracts with an unnamed South African information technology consulting firm, adding that the manager either knew or disregarded the possibility that the money paid to the tech firm would be paid to the SARS officials in exchange for contracts. Under the settlement, the company will pay $1.6 million in civil penalties, $675,974 in disgorgement and $180,790 in prejudgment interest.