United Tech to pay $14 million for illegal foreign payments: U.S. SEC

United Technologies logo is displayed on a screen at the post where it's stock is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 5, 2017. REUTERS/Brendan McDermid·Reuters
Reuters
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WASHINGTON (Reuters) - United Technologies Corp will pay $13.9 million to settle charges it made illegal payments or provided trips and gifts to officials from Azerbaijan, China, Kuwait, South Korea, Pakistan, Thailand and Indonesia in order to obtain business, the top U.S. securities regulator said on Wednesday.

The Connecticut-based company did not admit or deny the findings when it agreed to pay disgorgement and interest of around $10 million and a penalty of $4 million, the Securities and Exchange Commission said.

(Reporting by Doina Chiacu and Lisa Lambert; Editing by Jeffrey Benkoe)

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