Novartis AG paid more than $112 million in disgorgement and prejudgment interest to settle Securities and Exchange Commission (SEC) charges of violating the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA). The SEC found that local subsidiaries or affiliates of Novartis or its former subsidiary, Alcon Inc., engaged in schemes between 2012 and 2016 to make improper payments or to provide benefits to public and private healthcare providers in South Korea, Vietnam, and Greece in exchange for prescribing or using Novartis or Alcon products. The SEC also found that Novartis lacked sufficient internal accounting controls within its former Alcon business in China from 2013 to 2015.