Feb 27 U.S. shopping center operator Kimco
Realty Corp has received a subpoena from the securities
regulator over an investigation involving Wal-Mart Stores Inc
and possible violations of the Foreign Corrupt Practices
In a filing with the Securities and Exchange Commission
(SEC), the biggest operator of shopping malls in the United
States said it had received the subpoena on Jan. 28 from the
SEC's Enforcement Division.
The FCPA, a 1970s-era law, bars U.S. companies and others
from paying bribes to officials of foreign governments in
exchange for business.
Kimco said it would fully cooperate with the SEC.
It also said the Department of Justice was conducting a
"parallel investigation" with the SEC. The Hyde Park-based
company did not provide further details about that probe, but
said it would cooperate.
It is not clear if the SEC's subpoena is related to bribery
allegations involving Wal-Mart in Mexico, which surfaced last
year when the New York Times reported that the company had
stifled an internal probe into suspicions that Wal-Mart de
Mexico had paid bribes to help build stores there.
U.S. authorities have stepped up enforcement of the FCPA in
recent years, extracting hundreds of millions of dollars in
fines from Siemens, Alcatel-Lucent, KBR
Inc and others.
Wal-Mart is one of the main tenants in Kimco's shopping