SEC IN FIRST DPA AGAINST INDIVIDUAL IN FOREIGN CORRUPTION CASE
February 1st, 2016
The United States Securities and Exchange Commission (SEC) has announced its first deferred prosecution agreement (DPA) against an individual in a Foreign Corrupt Practices Act (FCPA) case. FCPA civil charges against Yu Kai Yuan, an employee at the Shanghai subsidiary of Massachusetts-based PTC Inc, will be deferred three years until February 2019, “as a result of significant cooperation he has provided during the SEC’s investigation,” said a note from the regulator. The SEC unveiled the DPA on February 16 in a statement revealing that PTC plus its Shanghai ...
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