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Violation Tracker Global: Individual Record
Company: Rolls-Royce PLC
Current Parent Company:
Rolls-Royce
Parent at the Time of the Penalty Announcement: Rolls-Royce
Jurisdiction: United Kingdom
Region: Europe
Penalty Currency: British Pound Sterling
Penalty Amount in Original Currency: 510,250,000
U.S. Dollar Equivalent at the Time of the Penalty Announcement: $632,097,700
Year: 2017
Date: January 17, 2017
Agency: Serious Fraud Office
Offense Group: competition-related offenses
Offense Category: kickbacks and bribery
Description: The agreement with the company followed the SFO's four-year investigation into bribery and corruption. The indictment covered 12 counts of conspiracy to corrupt, false accounting and failure to prevent bribery. The conduct spanned three decades and involved Rolls-Royce's Civil Aerospace and Defence Aerospace businesses and its former Energy business and related to the sale of aero engines, energy systems and related services. The conduct covered by the UK DPA took place across seven jurisdictions: Indonesia, Thailand, India, Russia, Nigeria, China and Malaysia. The Judge ruled in a public hearing at the Royal Courts of Justice that the DPA's terms were fair, reasonable and proportionate and that the DPA was in the interests of justice. He also agreed that the total sum in the UK settlement (£497.25m plus interest and the SFO's costs of £13m) reflected the gravity of the conduct, the full cooperation of Rolls-Royce PLC in the investigation, and the programme of corporate reform and compliance put in place by new leadership at the top of the company. The resolution is the highest ever enforcement action against company in the UK for criminal conduct.
HQ Country of Current Parent: United Kingdom
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: aerospace and military contracting
Specific Industry of Current Parent: aerospace & military contracting
Source of Data:
(click here)
Link to this record on Violation Tracker UK:
here
VTG Record ID: VTG24-66401