Nordion is conducting an internal investigation of a foreign supplier and related parties regarding compliance with the Canadian Corruption of Foreign Public Officials Act (CFPOA) and the U.S. Foreign Corrupt Practices Act (FCPA).
In a written statement, Nordion disclosed that an internal company review, as part of its CFPOA compliance program, discovered "potential compliance irregularities"; the firm has started an internal investigation.
The compliance issues relate to potential improper payments and other related financial irregularities in connection with the supply of materials and services to the company, Nordion said. Outside legal counsel and external forensic and accounting firms are conducting the probe.
Nordion also stated that it voluntarily contacted the regulatory and enforcement authorities, including the Canadian and U.S. Department of Justice, Royal Canadian Mounted Police, U.S. Securities and Exchange Commission, and Public Prosecution Service of Canada, to provide details of the matter and inform the agencies that an internal investigation is under way.
