WORLD’S LARGEST AD AGENCY AGREES TO END SHARP PRACTICES AND PAY SEC USD19 MILLION TO SETTLE FCPA CHARGES
September 1st, 2021
London and New York-based WPP, the world’s largest advertising group, has agreed to pay USD19.2 million to resolve charges laid by the USA’s Securities & Exchange Commission that it breached the US Foreign Corrupt Practices Act (FCPA). The SEC alleged WPP allowed overseas subsidiaries to bribe clients and breach accounting controls. The settlement, in which WPP neither denies or accepts it broke the FCPA, follows an aggressive international expansion programme undertaken by WPP, where it acquired local ad agencies in countries such as India, China, Brazil ...
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