Defendant Name:
Vantage Drilling International
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Vantage Drilling Company
SIC Code:
1381
CUSIP:
G9320511
Document Reference:
34-84617
Document Details
Legal Case Name
In the Matter of Vantage Drilling International
Document Name
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
Document Date
19-Nov-2018
Document Format
Administrative Proceeding
AAER
3994
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On November 19, 2018, the SEC issued an order against Vantage Drilling International, stating: "These proceedings arise from violations of the internal accounting control provisions of the Foreign Corrupt Practices Act of 1977 (the "FCPA"), 15 U.S.C. § 78m(b)(2)(B), by Vantage Drilling Company ("VDC"). Specifically, VDC failed to devise a system of internal accounting controls with regard to VDC's transactions with VDC's former outside director, largest shareholder, and only supplier of drilling assets ("Director A"), and failed to properly implement internal accounting controls related to its use of third-party marketing agents."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$5,000,000.00
Shared: