Defendant Name: Albemarle Corporation

Defendant Type: Public Company

Document Reference: 2023-209

Document Details

Legal Case Name In the Matter of Albemarle Corporation
Document Name Albemarle Corp. to Pay SEC More Than $103 Million to Settle FCPA Violations
Document Date 29-Sep-2023
Document Format Administrative Proceeding
File Number 3-21763
Allegation Type Foreign Corrupt Practices Act
Document Summary 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)."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Disgorgement

Individual:     $81,800,000.00 Shared:    

Pre-Judgment Interest

Individual:     $21,700,000.00 Shared:    

Total Penalty

Individual:     $103,600,000.00 Shared:    

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."