By Jennifer Faull

Advertising giant WPP has agreed to pay $19m to the US Securities and Exchange Commission over allegations of bribery.

The behemoth holding company had an “aggressive business growth strategy” until 2018 which saw it acquire agencies in India, Brazil, China and Peru.

According to the SEC, these local subsidiaries failed to adopt WPP’s “internal accounting controls and compliance policies” which allowed “the founders and CEOs of the acquired entities to exercise wide autonomy and outsized influence” allegedly including the bribery of government officials and falsifying financial records.

The holding company declined to admit or deny the SEC’s findings but agreed to pay a Read full story ›

Source: The Drum