Ralph Lauren to pay $1.6M to settle bribery case

NEW YORK

The Securities and Exchange Commission said Monday that the clothing maker reported the violations itself after they were discovered. The New York company agreed to pay $735,000 to the SEC and $882,000 to the Department of Justice as part of a parallel investigation.

According to the Justice Department, the manager of Ralph Lauren's subsidiary bribed officials to obtain paperwork over the span of five years. Inspection was avoided entirely in some cases. A Ralph Lauren representative wasn't immediately available for comment.

The Justice Department said Ralph Lauren also agreed to report ongoing efforts to comply with the Foreign Corrupt Practices Act.
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