SEC Investigating Avon Bribery Allegations
The SEC is now investigating Avon in connection with allegations of bribing foreign officials that have been the subject of an internal Avon investigation disclosed in a 10-Q filing last May.
According to The Guardian, Avon’s recent regulatory filing disclosed that “a formal order of investigation” by the SEC was underway. The filing said the SEC was investigation Avon under the Foreign Corrupt Practices Act which makes it illegal U.S. firms to bribe foreign officials.
The SEC also is investigating Avon’s contacts with financial analysts in 2010 and 2011.