Ericsson commences the three-year term of the monitorship
- Ericsson’s three-year term of the monitorship under its Deferred Prosecution Agreement with U.S. Authorities commences following the engagement of independent compliance monitor
As previously communicated, Ericsson (NASDAQ: ERIC) has entered into a three-year Deferred Prosecution Agreement (DPA) with the U.S. Department of Justice. As part of this resolution, Ericsson agreed to engage an independent compliance monitor for three years. The process of selecting a monitor has now been completed and Dr. Andreas Pohlmann of the firm Pohlmann & Company – Compliance and Governance Advisory LLP has been appointed as Ericsson’s monitor. The appointment marks the start of the three-year term of the monitorship.
The monitor’s main responsibilities include reviewing Ericsson’s compliance with the terms of the settlement and evaluating the Company’s progress in implementing and operating its enhanced compliance program and accompanying controls as well as providing recommendations for improvements.
Ericsson has in recent years been taking significant steps to improve its Ethics and Compliance program. For more information on this work, please see: https://www.ericsson.com/en/about-us/sustainability-and-corporate-responsibility/responsible-business
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Ericsson enables communications service providers to capture the full value of connectivity. The company’s portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson’s investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com