Defendant Name: Key Energy Services, Inc.

Defendant Type: Public Company
SIC Code: 1389
CUSIP: 49291410

Initial Case Details

Legal Case Name In the Matter of Key Energy Services, Inc.
First Document Date 11-Aug-2016
Initial Filing Format Administrative Action
File Number 3-17379
Allegation Type Foreign Corrupt Practices Act
AAER 3794

Violations Alleged

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

Resolutions

First Resolution Date 11-Aug-2016
Headline Total Penalty and Disgorgement $5,000,000

Related Documents:

34-78558 11-Aug-2016 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 August 11, 2016, the SEC instituted a settled administrative proceeding against Key Energy. According to the SEC, Key Energey improperly recorded money transfers to a consulting firm, failed to implement and maintain sufficient internal controls relating to interactions with Mexican Government officials, and failed to respond to risks relating to improper use of consultants.
34-78558-s 11-Aug-2016 Administrative Summary
SEC Charges Key Energy Services, Inc. with FCPA Violations
On August 11, 2016, the SEC announced a settled administrative proceeding with Key Energy. According to the SEC, the firm "violated the internal controls and books-and-records provisions of the Foreign Corrupt Practices Act". The violations arose from payments its Mexican subsidiary made to a contract employee at Mexico's state-owned oil company.