Advertising group WPP to pay $19 million to settle anti-bribery charges, says U.S. SEC
(Reuters) - The U.S. Securities and Exchange Commission said on Friday that WPP Plc, the world's largest advertising firm, has agreed to pay more than $19 million to resolve charges, without admitting or denying the regulator's findings.
WPP agreed to cease and desist from committing violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act, the SEC said. The company will pay $10.1 million in disgorgement, $1.1 million in prejudgment interest, and an $8 million penalty.
(Reporting by Nivedita Balu in Bengaluru; Editing by Shailesh Kuber)
