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China: Qualcomm settles US anti-corruption probe into its China activities

By  |  March 2, 2016

US wireless technology company Qualcomm has resolved yet another official investigation, the latest in a string of government-led probes stretching from the US via Europe to Asia.

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    The company announced last night that it has entered into a settlement with the US Securities and Exchange Commission with respect to its Foreign Corrupt Practices Act investigation. Without admitting or denying the SEC’s findings, Qualcomm has agreed to pay a civil penalty of $7.5 million to resolve the matter, which relates to its Chinese activities.

    The SEC says its investigation found that Qualcomm violated the FCPA “by hiring relatives of Chinese government officials deciding whether to select the company’s mobile technology products.” It also accused Qualcomm of providing “gifts, travel, and entertainment to try to influence officials at government-owned telecom companies in China,” and of misrepresenting in its financial records “that the things of value provided to foreign officials were legitimate business expenses.”

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