COPENHAGEN (Reuters) – Sweden’s Ericsson (BS:) stated on Monday {that a} four-year programme to watch the corporate’s compliance with a U.S. anti-corruption settlement had ended on June 2.
The appointment in 2020 of an impartial monitor adopted a settlement the earlier yr with the U.S. Division of Justice (DOJ) to resolve a probe into alleged corruption by the corporate in China, Vietnam, and Djibouti.
The monitor had been assessing the Swedish firm’s international anti-corruption compliance program and inner controls.
“On March 28, 2024, the monitor licensed to DOJ that Ericsson’s anti-corruption compliance program has happy necessities and is functioning successfully,” Ericsson stated in a press release.
In reference to the 2019 settlement, Ericsson had agreed to pay a felony penalty and interact with an impartial compliance monitor for 3 years, a time period that was later prolonged by a yr.
“This is a crucial milestone in our journey to enhance our organisation. Over the previous 4 years we’ve carried out vital compliance necessities and processes,” CEO Borje Ekholm stated.
Ericsson’s share worth rose 1.9% by 0723 GMT, outperforming a 0.9% rise in Stockholm’s benchmark inventory index.
