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Investigations Dataset

 

Investigation Name:    Investigation into Mobile Telesystems' Activities in Armenia

Trend:    None

Type of investigation:    Internal, SEC, DOJ

Agencies Investigating/Assisting with SEC/DOJ Investigation:   

Whistleblower:    Unknown

Summary

Mobile Telesystems PJSC ("MTS"), headquartered and incorporated in Russia, is a provider of telecommunications services whose publicly traded securities are registered with the SEC and traded on the New York Stock Exchange.

In March 2019, the SEC and DOJ resolved enforcement actions against MTS for FCPA-related misconduct in Uzbekistan. Under the terms of the settlements, MTS appointed an independent compliance monitor to review and test MTS’ anti-corruption compliance code, policies, and procedures.

In its 6-K filed on November 17, 2021, MTS disclosed that in connection with the independent compliance monitorship, certain problematic transactions were identified relating to the company's subsidiary in Armenia. MTS subsequently disclosed the transactions to the DOJ and SEC, and both agencies requested information regarding the transactions. MTS also initiated an internal investigation into the matter.

This investigation is ongoing.

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