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Enforcement Action Dataset

 

Initiation Date:    05/09/2019  Information

Prosecuting Agency:    U.S. Securities and Exchange Commission

Type of Action:    SEC Administrative Proceeding

Docket or Case Number:    3-19162

Name of Prosecuting Attorneys:   

  • Jon B. Jordan, SEC Headquarters
  • M. Shahriar Masud, SEC Headquarters
  • Thierry Olivier Desmet, Assistant Director, FCPA Unit, SEC Miami

US Assisting Agencies:   

  • U.S. Department of Justice
  • Federal Bureau of Investigation

Foreign Enforcement Action/Investigation:    Unknown

Foreign Assistance:    Unknown

Origin of the Proceeding:    Unknown

Whistleblower:    Unknown

Case Status:    Resolved


Summary  Information

Telefonica S.A. was a Spanish multinational broadband and telecommunications provider with operations in multiple countries.

Telefonica Brasil S.A. was a Telefonica subsidiary as well as the largest telecommunications company in Brazil. Telefonica Brasil’s American Depositary Receipts were registered with the SEC and traded on the New York Stock Exchange.

According to the documents in this case, in 2013 and 2014 Telefonica Brasil hosted a hospitality program in connection with the 2013 Confederations Cup and 2014 World Cup soccer tournaments. Through this program, Telefônica Brasil offered and provided tickets and hospitality to government officials who were directly involved with or could influence legislative actions, regulatory approvals, and business dealings involving the company. In total, the company provided tickets and hospitality to approximately 34 government officials for the Conferderations Cup and to approximately 93 officials for the World Cup.

In an administrative proceeding initiated on May 9, 2019, the SEC ordered Telefonica Brasil to cease and desist violations of the books & records and internal controls provisions of the FCPA. The SEC further ordered the company to pay a civil fine of $4,125,000.

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