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(MLM Cosmetics company) Avon Discloses SEC Probe, Plans Business Reassessment

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alp227 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 01:24 PM
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(MLM Cosmetics company) Avon Discloses SEC Probe, Plans Business Reassessment
Source: WSJ

Avon Products Inc. said the Securities and Exchange Commission is formally investigating possible bribery of foreign officials by the beauty products company.

The disclosure, disclosed along with disappointing earnings Thursday, raises the stakes in events that Avon has been investigating internally for three years. The company's probe began with allegations of impropriety in China and then spread, including to Avon's core markets in Latin America.

Avon said in a regulatory filing that it was advised that "a formal order of investigation" was issued by the SEC relating to the Foreign Corrupt Practices Act. "The Company intends to cooperate fully with the SEC's investigation," it added.

The SEC is also investigating whether Avon improperly disclosed material information to analysts and other members of the financial community in 2010 and 2011, the company said.

Read more: http://online.wsj.com/article/SB10001424052970203554104...



google the title for full article. Have you ever seen Avon sales reps roaming your area?
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monmouth Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 01:46 PM
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1. I am one of many who order online and am constantly asked to
be a rep. I think that is just a routine offering...
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ShockediSay Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 07:45 PM
Response to Original message
2. What?! Gov regulation costing jobs? {on commission only, no benefits} nt
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