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Conglomerate
Charlotte, North Carolina, United States
Nationality of Foreign Officials: Brazil
Summary of Allegations:
According to the SEC filing of Honeywell International Inc. (“Honeywell”) on 30 September 2019, Honeywell is being probed for its use of third parties in Brazil relating to Petrobras under the FCPA and anti-corruption laws in Brazil.
According to the settlement documents, employees and intermediaries of Honeywell International’s U.S. subsidiary, Honeywell UOP, engaged in a bribery scheme to obtain and retain business from Petróleo Brasilero S.A. (Petrobras), a state-owned entity in Brazil, between 2010 and 2014.
Approximate Alleged Payments to Foreign Officials: $4 million
Business Advantage Allegedly Obtained: $105.5 million
Agencies: Brazil: Unspecified
Results:
Year Resolved:
Compliance Monitor:
Ongoing: Yes
Details:
According to the SEC filing of Honeywell International Inc. (“Honeywell”) on 30 September 2019, Brazilian authorities are investigating Honeywell’s use of third parties in Brazil relating to Petrobras and examining its compliance practices under the local anti-corruption laws.
Agencies: United States: Department of Justice, United States: Securities and Exchange Commission
Results: Criminal Penalty, Deferred Prosecution Agreement, Disgorgement
Year Resolved:
Compliance Monitor:
Ongoing: Yes
Details:
According to the SEC filing of Honeywell International Inc. (“Honeywell”) on 30 September 2019, the U.S. Department of Justice and the U.S. Securities Exchange Commission are investigating Honeywell’s use of third parties in Brazil relating to Petrobras and examining its compliance practices under the FCPA and anti-corruption laws in Brazil.
Honeywell is also cooperating with both agencies regarding their probe into an unnamed foreign subsidiary’s interaction with Unaoil S.A.M. in Algeria.
On 19 December 2022, Honeywell reached settlements with the U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) to resolve violations of the Foreign Corrupt Practices Act (FCPA). According to the settlement documents, employees and intermediaries of Honeywell International’s U.S. subsidiary, Honeywell UOP, engaged in a bribery scheme to obtain and retain business from Petróleo Brasilero S.A. (Petrobras), a state-owned entity in Brazil, between 2010 and 2014.
In a deferred prosecution agreement with the DOJ, the company agreed to a criminal penalty of US$79 million. Additionally, the company will pay approximately US$81 million in disgorgement and prejudgment interest to resolve the investigation by the SEC.
Discovery Method: Unspecified
Details:
Country: