Defendant Name: Albemarle Corporation

Defendant Type: Public Company
SIC Code: 2821
CUSIP: 01265310

Initial Case Details

Legal Case Name In the Matter of Albemarle Corporation
First Document Date 29-Sep-2023
Initial Filing Format Administrative Action
File Number 3-21763
Allegation Type Foreign Corrupt Practices Act
AAER 4468

Violations Alleged

Exchange Act
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 30A

Resolutions

First Resolution Date 29-Sep-2023
Headline Total Penalty and Disgorgement $103,618,310

Related Documents:

34-98622 29-Sep-2023 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On September 29, 2023, the SEC instituted cease-and-desist proceedings against Albemarle Corporation, stating: "This matter concerns violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 (the “FCPA”) by Albemarle, a global specialty chemicals company that develops and sells catalysts used in the operation of oil refineries. From at least 2009 through 2017, Albemarle’s agents paid bribes to obtain sales of catalysts to public-sector oil refineries in Vietnam, India, and Indonesia and to private-sector oil refineries in India."
2023-209 29-Sep-2023 Press Release--Administrative Proceeding
Albemarle Corp. to Pay SEC More Than $103 Million to Settle FCPA Violations
On September 29, 2023, the SEC "announced that Charlotte-based Albemarle Corporation, a global specialty chemicals company, agreed to pay more than $103.6 million to settle the SEC's charges that it violated the anti-bribery, recordkeeping, and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA)."