WPP Pays $19 Million Over SEC Claims it Broke Bribery Laws (1)

WPP Plc, the world’s largest advertising agency, agreed to pay more than $19 million to settle U.S. Securities and Exchange Commission allegations that it violated anti-bribery laws.

WPP acquired majority interests in firms in high-risk markets without ensuring that these subsidiaries implemented WPP’s internal compliance controls, according to a Friday SEC statement. Founders and CEOs of the acquired entities exercised wide autonomy and out-sized influence. For example, a subsidiary in India continued to bribe Indian government officials in return for advertising contracts even though WPP had received seven anonymous complaints about the conduct.

“A company cannot allow a focus ...