U.S. FCC fines Siemens $175,000 for failing to disclose felonies
Reuters
Published Sep 22, 2016 03:18PM ET
Updated Sep 22, 2016 04:50PM ET
U.S. FCC fines Siemens $175,000 for failing to disclose felonies
WASHINGTON (Reuters) - Siemens Corp and Siemens Medical Solutions, units of Siemens AG (DE:SIEGn), have agreed to pay a $175,000 fine for failing to disclose corporate felony convictions to the Federal Communications Commission, the agency said on Thursday.
Under FCC rules, wireless license holders, like Siemens, Siemens Medical, and some of their subsidiaries, are required to disclose any felony convictions in their license applications, the FCC said in news release.
The FCC said an investigation found that Siemens AG pleaded guilty in 2008 to violating the Foreign Corrupt Practices Act. Siemens, Siemens Medical, and some of their subsidiaries failed to meet their statutory and regulatory obligation to timely disclose the felony conviction on applications filed between 2007 and 2015, the FCC said.
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Written By: Reuters
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