Defendant Name:
Shell International Exploration and Production Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Royal Dutch Shell plc
SIC Code:
2911
CUSIP:
78025910
Document Reference:
34-63243
Document Details
Legal Case Name
In the Matter of Royal Dutch Shell plc, and Shell International Exploration and Production Inc.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Sanctions and a Cease-and-Desist Order
Document Date
04-Nov-2010
Document Format
Administrative Proceeding
AAER
3204
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On November 4, 2010, the SEC instituted settled cease and desist proceedings against Royal Dutch Shell (Shell) and Shell International Exploration and Production (SIEP). The SEC alleged Foreign Corrupt Practices Act violations against Shell and SIEP. In particular, the SEC alleged: "From September 2002 through November 2005, SIEP, on behalf of Shell, authorized the reimbursement or continued use of services provided by a company acting as a customs broker that involved suspicious payments of approximately $3.5 million to officials of the Nigerian Customs Service in order to obtain preferential treatment during the customs process for the purpose of assisting Shell in obtaining or retaining business in Nigeria on Shell's Bonga Project."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Disgorgement
Individual:
Shared:
$14,153,536.00
Shared with: Royal Dutch Shell plc
Pre-Judgment Interest
Individual:
Shared:
$3,995,923.00
Shared with: Royal Dutch Shell plc
Other Defendants in Action: