STATEMENT27 Jul 2011
Settlement of SEC investigation – Diageo StatementDownload file
Diageo has today agreed settlement of the previously disclosed US Securities and Exchange Commission (SEC) investigation into potential violations of the US Foreign Corrupt Practices Act.
The investigation related to payments involving Diageo’s subsidiaries in India, South Korea and Thailand. Under the settlement Diageo has agreed to pay $13,373,820 to the SEC in disgorgement of profits and pre-judgment interest, to pay a $3 million penalty to the SEC, and to cease and desist from committing any further violations of the books and records and internal controls provisions of the FCPA.
Diageo takes the SEC’s findings seriously and regrets this matter. Systems and controls have been enhanced in an effort to prevent the future occurrence of such issues and to reinforce, everywhere the Company operates, a culture of compliance and commitment to the principles embodied in Diageo’s Code of Business Conduct.
For further information please contact:
+44 (0) 208 978 2528 – Stephen.Doherty@diageo.com
+44 (0) 7973 826 639
+44 (0) 208 978 4751 – Rowan.Pearman@diageo.com
+44 (0) 7976 275 756