Daimler AG reaches settlement with US Authorities

The conclusion of investigations into violations of the Foreign Corrupt Practices Act (FCPA) sees Daimler AG reach a settlement with the US Securities and Exchange Commission (SEC) and the US Department of Justice (DOJ). Under the terms of the settlement, prosecutions against Daimler AG and Daimler North East Asia Ltd. are deferred. Daimler pays fines of USD 93.6 million and agrees to the disgorgement of profits of USD 91.4. The deferred prosecution agreements are premised on the requirement that no further FCPA violations occur during the two-year term of the agreements and that a comprehensive compliance programme is maintained.