(Boursier.com) – Alstom has reached an agreement with the US Department of Justice closes investigation into alleged violations of US law on bribery in international transactions ( FCPA)
After years of investigations and detailed discussions with the authorities, two US subsidiaries, Alstom Power Inc. and Alstom Grid Inc. (formerly Alstom T & amp;. D Inc.), accepted a deferred prosecution agreement with the DoJ on FCPA violation charges; if the two US subsidiaries comply with the terms of their agreement, the prosecution will be dropped after three years.
A subsidiary of Alstom, Alstom Network Schweiz AG (formerly Alstom Prom AG), has agreed to plead guilty to a violation of anti-corruption rules of the FCPA.
Fine of $ 772 million
Given the above, Alstom SA agreed to plead guilty to failure to comply with the FCPA provisions on bookkeeping and internal control and pay a fine of about $ 772 million. The DOJ has also stipulated that no part of the fine can not be transferred to General Electric in the sale of part of the activities planned Energy Alstom.
Compliance Progress in
Alstom has made significant progress in terms of compliance in recent years. Thus, breaches referred to in the agreement with the DoJ mainly from “the use of external consultants paid by Alstom depending on the success of the projects they were held in support for internal sales teams,” the group said.
To ensure that Alstom applies best to the best standards of compliance, the Group ended the use of external consultants. Furthermore, as part of an agreement with the World Bank in February 2012, Alstom has committed to continue to improve its internal compliance program and entrusted to an observer (‘Monitor’) supervision of its efforts in this area. His work to date has confirmed that Alstom has implemented a compliance program “which respects the principles required by the guidelines on compliance and integrity of the World Bank.”
“It there has been a number of problems in the past and I deeply regret, “said Patrick Kron, CEO of Alstom . “Nevertheless, the agreement with the DOJ puts an end to that folder and allows Alstom to focus on continuing our efforts to ensure that our activities are conducted responsibly, in line with the highest ethical standards” .
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