SEC Closes Probe of Avon Disclosures (Reuters)

Investigation concerned former vice chairman’s comments to an analyst.

The Securities and Exchange Commission closed its investigation of whether the company’s executives violated Reg FD in discussions with analysts, Reuters reports. Avon said in an SEC filing that the agency told it that “the staff does not intend to recommend any enforcement action.”

Avon Products has been conducting an internal investigation since 2009 into whether any of its overseas units violated the Foreign Corrupt Practices Act. The SEC’s Reg FD investigation related to whether former Avon Vice Chairman Chuck Cramb had improperly disclosed information about the bribery probe to an analyst. Cramb left Avon earlier this year.

 

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