Con-Way pays $330K penalty to SEC to settle dispute

Con-Way, the San Mateo-based trucking firm, settled a dispute with the SEC Wednesday regarding  alleged  violations  of  the  Foreign Corrupt Practices Act, according to a regulatory filing. The dispute arose from the conduct of Emery Transnational, a Philippines-based joint venture that Con-Way later sold to UPS. In 2003, Con-way  became aware that the division may have made certain payments in violation of the act and promptly notified the SEC.

Con-way says that the SEC recognized its co-operation in the investigation in its order resolving the matter, and that it “acknowledged that Con-Way has taken remedial actions and enhanced its compliance program.

 

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