Agilent Technologies announced this week that the Department of Justice and Securities and Exchange Commission have decided not to file any charges against it in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.
As Compliance Week previously reported, Agilent disclosed in a Form 10-Q last year that it had determined during a routine internal audit that certain employees of its subsidiaries in China “did not comply with the company's Standards of Business Conduct and other policies.” Based on those findings, Agilent initiated an internal investigation, with the assistance of outside counsel, concerning the sale of some of its products through third-party intermediaries in China.
The internal investigation included a review of whether its employees may have violated the FCPA and other laws and regulations, the Form 10-Q stated. At that time, Agilent voluntarily contacted the SEC and the Department of Justice to advise them of the internal investigation.
In a recent Form 8-K filing, dated Sept. 29, Agilent said that it had received a letter on Sept. 15 from the SEC’s Division of Enforcement, stating that its investigation had been completed and that the agency “did not intend to recommend any enforcement action.”
On Sept. 24, Agilent additionally received a letter from the Justice Department, stating that it also had “closed its inquiry into the matter, citing the company’s voluntary disclosure and thorough investigation.”
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