Exterran Corporation said in a securities filing Wednesday that an investigation into compliance with the FCPA has ended, with both the DOJ and SEC saying they don’t intend to bring enforcement actions.
Houston-based Exterran said the two-year investigation had focused on equipment contracts for desalination plants in the Middle East.
The company first disclosed the potential compliance problems to the SEC in April 2016.
Exterran said it had responded to an SEC subpoena, and the DOJ also requested FCPA-related documents during the investigation.
In Wednesday’s filing, Exterran said:
The SEC staff has notified us that they have concluded their investigation concerning our compliance with the FCPA and that they do not intend to recommend an enforcement action concerning our compliance with the FCPA. The DOJ has similarly informed us that it does not intend to proceed with any further investigation or enforcement.
Exterran is the fifth company to report declinations in 2018.
It has about 5,100 employees working in around 30 countries.
Exterran Corporation trades on the NYSE under the symbol EXTN.
Richard L. Cassin is the publisher and editor of the FCPA Blog.
It seems like US companies are pretty much walking away from investigations unscathed but foreign ones are not so lucky. Is this true and, if so, related to the new administration?
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