On September 23, 2022, the SEC instituted settled cease-and-desist proceedings against Compass Minerals International, Inc., stating: "This case involves various disclosure violations by Compass Minerals. From 2017 to 2018, Compass made repeated misrepresentations about its plans to reduce costs and about the production levels at its Goderich salt mine. These misrepresentations were the consequence of a deficient disclosure process at the company in which statements to investors were not reviewed by personnel who were sufficiently knowledgeable about both Compass’s operations and its disclosure obligations. The failures in Compass’s disclosure controls and procedures resulted not only in material misstatements about the mine, but in the company’s senior management not having sufficient information about environmental issues caused by a facility it owned in Brazil to make appropriate determinations about disclosures."

On September 23, 2022, the SEC "announced settled charges against Compass Minerals International Inc. for misleading investors about a technology upgrade that the company claimed would reduce costs at its most significant mine, but in reality, had increased costs, and for failing to properly assess whether to disclose the financial risks created by the company’s excessive discharge of mercury in Brazil. Compass is ordered to pay $12 million to settle the charges."

The Commission ordered: "the Division's request for an extension of time until December 1, 2024, to submit a Proposed Plan of Distribution is granted."

The Commission ordered that: "Heffler, Radetich & Saitta, LLP is appointed as the Tax Administrator for the QSF in the above-referenced proceeding."

The Commission ordered that: "A. Simpluris is appointed as the Fund Administrator, pursuant to Rule 1105(a) of the Commission's Rules on Fair Fund and Disgorgement Plans ("Commission's Rules");2 B. Simpluris shall obtain a bond in accordance with Rule 1105(c) of the Commission's Rules,3 in the amount of $12,000,000.00; C. the Fund Administrator will submit invoices to the Commission staff for services rendered, in accordance with Rule 1105(d) of the Commission's Rules;4 and D. at the direction of an Assistant Director of the Office of Distributions, OFM is authorized to pay the Fund Administrator's fees and expenses from the Fair Fund, in accordance with Rule 1105(e) of the Commission's Rules,5 so long as the total amount paid to the Fund Administrator, including invoices to be paid, does not exceed the total amount of the approved cost proposal submitted by the Fund Administrator."

The Commission stated: "Notice is hereby given . . . that the Division of Enforcement has submitted to the Commission a proposed plan of distribution (the “Proposed Plan”) for the distribution of monies paid in the above-captioned matter."

The Commission ordered that: "the Proposed Plan is approved, and the approved Plan of Distribution shall be posted simultaneously with this order on the Commission’s website at www.sec.gov."

The Commission stated: "The Division of Enforcement has submitted this Plan of Distribution (the "Plan") to the United States Securities and Exchange Commission (the "Commission") . . . . This Plan provides for the distribution of a Fair Fund (the "Fair Fund"), comprised of civil money penalties collected from Compass Minerals International, Inc. ("Compass" or the "Respondent") in the above-captioned matter."