Foreign Corrupt Practices Act: Investigations Dataset

Investigation Name: Investigation into Xylem's Activities in South Korea

Trend: None

Type of investigation: Internal, SEC, DOJ

Other Agencies Investigating/Assisting with SEC/DOJ Investigation: Unknown

Whistleblower: Unknown

Summary

Xylem Inc. is a large American water technology provider in public utility, residential, commercial, agricultural and industrial settings. The company does business in more than 150 countries. Its stock is traded on the New York Stock Exchange.

Following a decision in December 2014 by the Korea Fair Trade Commission (“KFTC”) that certain employees of Xylem Water Solutions South Korea Co., Ltd. (“Xylem South Korea”), a subsidiary of Xylem Inc, had violated Korea’s antitrust laws, Xylem instituted an internal investigation into the allegations. Shortly after beginning the investigation, Xylem expanded the investigation to include a review of Xylem South Korea's compliance with the FCPA. As part of this internal investigation, the Company hired independent outside counsel and an independent accounting firm.

In late January 2015, Xylem disclosed the internal investigation to the SEC and DOJ.

In a quarterly filing on October 19, 2015, Xylem reported that the SEC would not bring an enforcement action against the Company in connection with the events at Xylem South Korea, and in an annual filing on February 26, 2016, Xylem reported the DOJ had declined to prosecute the Company in connection with the events at Xylem South Korea.

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| Investigations Dataset

Investigations Dataset

Information & Summary

Investigation into Xylem's Activities in South Korea

Information & Summary

Protected Content