On the heels of reports that at least three Hollywood studios have made major breakthroughs with China effectively lifting the quota on the number of films that are shown there and entering into coproductions worth tens, or even hundreds, of millions of dollars, Reuters is reporting that the Securities and Exchange Commission wants the studios to provide details of those deals. The Wire service, citing an unnamed person familiar with the matter, said that the SEC has sent letters to at least five studios over the past two months asking for "information about potential inappropriate payments." Reuters observed that the letters represent more intense scrutiny by the SEC of deals by American companies that could possibly be in violation of the Foreign Corrupt Practices Act.

25/04/2012