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Kimco receives subpoena in Wal-Mart probe


New York -- Shopping center operator Kimco Realty Corp. has received a subpoena in an investigation over possible violations of the Foreign Corrupt Practices Act (FCPA) by Wal-Mart Stores, Reuters reported.

In a filing with the Securities and Exchange Commission (SEC), the Kimco said it had received the subpoena on Jan. 28 from the SEC’s Enforcement Division. Kimco said it would fully cooperate with the SEC, and that the Department of Justice was conducting a "parallel investigation" with the SEC, according to the report.

The FCPA is a law that bars U.S. companies and others from paying bribes to officials of foreign governments in exchange for business.

U.S. authorities have stepped up enforcement of the FCPA in recent years, Reuters said.

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