Our Website Uses Cookies 


We and the third parties that provide content, functionality, or business services on our website may use cookies to collect information about your browsing activities in order to provide you with more relevant content and promotional materials, on and off the website, and help us understand your interests and improve the website.


For more information, please contact us or consult our Privacy Notice.

Your binder contains too many pages, the maximum is 40.

We are unable to add this page to your binder, please try again later.

This page has been added to your binder.

Nortek Settles FCPA Investigation Over Payments to Chinese Government Officials

June 13, 2016, Covington Alert

On June 7, 2016, the Securities and Exchange Commission (“SEC”) announced a non-prosecution agreement (“NPA”) with Nortek, Inc., a manufacturer of construction and remodeling products, in connection with an investigation into possible violations of the books and records and internal accounting controls provisions of the US Foreign Corrupt Practices Act (“FCPA”) based on payments by its an indirect wholly-owned Chinese subsidiary to Chinese government officials. Under the NPA, Nortek agreed to pay over $320,000 in disgorgement and pre-judgment interest, but Nortek was not charged with violating the FCPA and did not have to pay additional penalties. Additionally, as part of its recently announced enforcement pilot program, the US Department of Justice (“DOJ”) issued a letter of declination to Nortek closing its inquiry into the matter.

Share this article: