Today, we announced that we have entered into an administrative settlement with the U.S. Securities and Exchange Commission (SEC) that resolves an internal and government investigation with respect to matters involving the U.S. Foreign Corrupt Practices Act (FCPA) that Juniper Networks self-reported. Juniper previously disclosed that the Department of Justice (DOJ) had closed its investigation into the matter without taking any action and this settlement ends all FCPA-related investigations or inquiries into Juniper by the SEC.
Juniper, under the strong leadership of its Audit Committee of the Board of Directors, conducted a thorough internal investigation, fully cooperated with the DOJ and the SEC and took extensive corrective steps. In connection with the settlement, the SEC highlighted Juniper’s extensive cooperation with its investigation and its strengthened Integrity & Compliance Program. During the pendency of the investigation, Juniper took a number of steps to substantially strengthen and invest in our compliance program.
The settlement concerns the funding of customer marketing activities that occurred in Russia and China from 2008 to 2013. As part of the settlement, Juniper neither admits nor denies it engaged in any wrongdoing and agreed to make a combined payment of $11.75 million to the SEC. In October 2018, Juniper disclosed that it had accrued $12 million for resolution of the SEC investigation.
We are pleased that this issue has come to a close. Operating with the highest ethical standards is of the utmost importance for Juniper Networks and acting with integrity, in everything we do, is the Juniper Way.