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COPENHAGEN (Reuters) – Sweden’s Ericsson (BS:) mentioned on Monday {that a} four-year programme to observe the corporate’s compliance with a U.S. anti-corruption settlement had ended on June 2.
The appointment in 2020 of an unbiased monitor adopted a settlement the earlier 12 months with the U.S. Division of Justice (DOJ) to resolve a probe into alleged corruption by the corporate in China, Vietnam, and Djibouti.
The monitor had been assessing the Swedish firm’s world anti-corruption compliance program and inside controls.
“On March 28, 2024, the monitor licensed to DOJ that Ericsson’s anti-corruption compliance program has glad necessities and is functioning successfully,” Ericsson mentioned in an announcement.
In reference to the 2019 settlement, Ericsson had agreed to pay a prison penalty and have interaction with an unbiased compliance monitor for 3 years, a time period that was later prolonged by a 12 months.
“This is a crucial milestone in our journey to enhance our organisation. Over the previous 4 years we’ve got carried out essential compliance necessities and processes,” CEO Borje Ekholm mentioned.
Ericsson’s share value rose 1.9% by 0723 GMT, outperforming a 0.9% rise in Stockholm’s benchmark inventory index.
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