Settlements

ST-490
PTC Inc. / Yu Kai Yuan
PTC Inc.
United States
Securities and Exchange Commission
China
2016
2/16
Unknown
Individual
Civil
Deferred Prosecution Agreement
None
$0
$0
$0
$0
$0
NA
Art.16
Art. 1, Art. 8
Falsification of books and records; internal controls violations
No admission or denial of alleged offenses
Yes
See related entry, US Securities and Exchange Commission Cease and Desist Order issued against PTC Inc. The SEC announced that the Deferred Prosecution Agreement with Mr. Yuan was the first "with an individual in an FCPA case. DPAs facilitate and reward cooperation in SEC investigations by foregoing an enforcement action against an individual who agrees to cooperate fully and truthfully throughout the period of deferred prosecution. FCPA charges will be deferred for three years against Yu Kai Yuan, a former employee at one of PTC’s Chinese subsidiaries, as a result of significant cooperation he has provided during the SEC’s investigation." (Source: US Securities and Exchange Commission Press Release, "SEC: Tech Company Bribed Chinese Officials," February 16, 2016; See also, SEC-Yu Kai Yuan Deferred Prosecution Agreement, at https://www.sec.gov/litigation/admin/2016/34-77145-dpa.pdf