REAL-SEC-2024-001·US SECURITIES AND EXCHANGE COMMISSION·
SEC Charges Virginia-Based RTX Corp. with Violating Foreign Corrupt Practices Act in Connection with Efforts to Obtain Contracts with the Qatari Military
Report date: (original source date). Article publication date: .
Report an error or privacy concernJURISDICTIONUNITED STATESJURISDICTIONQATARSECTORAEROSPACE & DEFENCESTAGESETTLEMENT
Summary
RTX Corporation agreed to pay more than US$124 million to resolve SEC FCPA charges concerning efforts to obtain Qatari military contracts. The SEC order described sham subcontracts used to pay nearly US$2 million in bribes and more than US$30 million paid to an agent despite significant corruption risks. The resolution also requires RTX to retain an independent compliance monitor for three years.
Why it matters
The action addresses sham subcontracting, high-risk agents and documentation failures in defence sales.
AB&C red flags
THIRD-PARTY INTERMEDIARYDETECTED
PUBLIC OFFICIALDETECTED
STATE-OWNED ENTERPRISEUNCLEAR
GIFTS & HOSPITALITYNOT IDENTIFIED
PROCUREMENT / TENDERINGDETECTED
CHARITABLE DONATION / SPONSORSHIPNOT IDENTIFIED
POLITICAL CONTRIBUTIONNOT IDENTIFIED
FACILITATION PAYMENTNOT IDENTIFIED