Mayer Brown advises Las Vegas Sands Corp. on resolution of SEC probe
7 April 2016
Mayer Brown advised Las Vegas Sands Corp. on an investigation conducted by the US Securities and Exchange Commission (SEC) regarding the company’s compliance with the Foreign Corrupt Practices Act (FCPA). Today, the SEC announced a settled administrative proceeding under the internal controls and books and records provisions of the FCPA.
The SEC made no finding of corrupt intent or bribery by Las Vegas Sands Corp. The company neither admitted nor denied any of the SEC findings. The administrative order from the SEC includes a $9 million civil monetary penalty and an agreement to retain an independent compliance consultant for a period of two years.
Las Vegas Sands Corp. is the world’s leading developer and operator of integrated resorts, with properties in the US, Singapore, and through majority ownership in Sands China Ltd., Macao.
The DC-based Mayer Brown team included Global Anti-Corruption & FCPA practice co-leader Laurence Urgenson and senior associate Matthew Alexander. Former Mayer Brown partner Audrey Harris assisted on this matter.