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Delta & Pine settles with SEC on foreign payments

Thu Jul 26, 2007 3:15pm EDT

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WASHINGTON, July 26 (Reuters) - Delta & Pine Co. and a subsidiary have agreed to pay $300,000 to settle charges that the unit paid Turkish officials to get documents needed to operate its business in Turkey, the U.S. Securities and Exchange Commission said on Thursday.

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The SEC said top cotton seed producer Delta & Pine, which has since been acquired by Monsanto Co. (MON.N), through its subsidiary Turk Deltapine Inc. made payments of about $43,000 from 2001 through 2006 to officials of the Turkish Ministry of Agricultural and Rural Affairs.

A Monsanto spokesman could not immediately be reached for comment. Delta & Pine and Turk Deltapine settled with the SEC without admitting or denying the charges.

The SEC said the payments violated the Foreign Corrupt Practices Act. It also said Delta & Pine failed to keep accurate books and records in connection with the improper payments. (Reporting by Karey Wutkowski)

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