Ericsson confirms SEC corruption investigation

Ericsson said it is cooperating with U.S. authorities in an investigation into alleged corruption dating back more than three years. The telecom gear vendor said last week that it received a request from the U.S. Securities and Exchange Commission in 2013 seeking information on its anticorruption policies and procedures. Ericsson said the questions were related to the 1977 Foreign Corrupt Practices Act, which addresses accounting transparency requirements as well as the bribery of foreign officials.

Reports of the investigation aren't exactly groundbreaking news – the company said it had confirmed to local media in 2013 that it had received the request – and investors seem largely unconcerned, as Ericsson shares were up roughly 2.5 percent in mid-day trading Monday. But Ericsson could face a substantial fine if officials determine it has run afoul of the Act. Article