The U.S. Securities and Exchange Commission announced that Moog Inc., a New York-based global manufacturer of motion control systems for the aerospace, defense, industrial, and medical sectors, agreed to pay a civil penalty of $1.1 million. The settlement resolves the SEC's charges that the company violated the Foreign Corrupt Practices Act (FCPA) due to bribes paid by its wholly owned Indian subsidiary, Moog Motion Controls Private Limited.
Without admitting or denying the SEC's findings, Moog consented to the SEC's order, which requires the company to cease and desist from any future violations. Additionally, Moog agreed to pay the civil penalty.
The SEC alleged that, from 2020 through 2022, Moog Motion Controls employees bribed a variety of Indian officials to win business and also used a variety of schemes to make the improper payments, including by funneling them through third-party agents and distributors. The same Moog Motion Controls employees also offered cash bribes to Indian officials in an attempt to cause public tenders in India to favor Moog's products and exclude competitors.
For comments and feedback contact: editorial@rttnews.com
Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.