Oil and Gas Company Discloses SEC Investigation into Potential FCPA Violations

SEC FCPA Update News

On March 15, an Ohio-based provider of sand products used in the oil and gas industry, disclosed  that in December 2015, the SEC notified it of an investigation of potential violations of the FCPA and other securities laws related to its international operations.  The company had previously retained outside counsel to conduct an investigation and determined that no further action was necessary.  The company did not estimate the potential costs of the SEC investigation or any potential penalties or fines that could result.