March 26, 2018 / 5:17 PM / a year ago

Kinross Gold settles Foreign Corrupt Practices Act charges -SEC

WASHINGTON, March 26 (Reuters) - The U.S. Securities and Exchange Commission said on Monday it had reached a settlement with Kinross Gold Corp over alleged Foreign Corrupt Practices Act violations.

The SEC said Canada-based Kinross repeatedly failed to implement adequate accounting controls of two African subsidiaries it acquired in a $7.1 billion transaction in 2010. Without admitting or denying the findings, Kinross agreed in an administrative proceeding to a cease-and-desist order and a penalty of $950,000, the agency said. (Reporting by Eric Beech Editing by David Alexander)

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