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Qualcomm could face SEC probe over Chinese bribery allegations |
April 24, 2014
Qualcomm’s activities in China could result in regulatory penalties for the chip vendor, this time from the U.S. Securities and Exchange Commission over bribery allegations.The company is already facing an anti-monopoly probe from Chinese authorities for allegedly overcharging clients. But on Wednesday, Qualcomm said that the SEC may also consider penalizing the company, as part of an anti-corruption investigation.The SEC’s Los Angeles Regional Office has made a preliminary decision to recommend that the SEC take action against Qualcomm for violating anti-bribery controls, the company said in its second quarter report. The accusations involve Qualcomm offering benefits to “individuals associated with Chinese state-owned companies or agencies,” the report added.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2147680/qualcomm-could-face-sec-probe-over-chinese-bribery-allegations.html#tk.rss_all
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