WPP Agrees to Pay $19 Million Following SEC Bribery Accusations

The world's largest agency network faced accusations around subsidiary businesses in India, China, Peru and Brazil

Brandweek will feature live discussions with marketing pros at ULTA Beauty, Converse, UPS and more. Meet us in Miami Sept. 11–14 to boost your business and elevate your brand.

Editor’s Note: The story has been updated with comments from WPP

WPP has agreed to pay more than $19 million by the Securities and Exchange Commission over anti-bribery charges in relation to its acquisitions in high-risk markets.

The SEC claimed that WPP had violated parts of the Foreign Corrupt Practices Act (FCPA) when it acquired majority stakes in agencies in China, Brazil and Peru.

It also claimed that WPP failed to ensure the subsidiaries followed “internal accounting controls and compliance policies” when it apparently allowed chief executives and founders of the agencies acquired “to exercise wide autonomy and outsized influence.”




Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in