Defendant Name:
Albemarle Corporation
Defendant Type:
Public Company
SIC Code:
2821
CUSIP:
01265310
Document Reference:
34-98622
Document Details
Legal Case Name
In the Matter of Albemarle Corporation
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
29-Sep-2023
Document Format
Administrative Proceeding
AAER
4468
Allegation Type
Foreign Corrupt Practices Act
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:
Disgorgement
Individual:
$81,856,863.00
Shared:
Pre-Judgment Interest
Individual:
$21,761,447.00
Shared:
Total Penalty
Individual:
$103,618,310.00
Shared:
