Global resources company BHP Billiton disclosed in an annual report this week that it’s discussing a possible resolution with the Securities and Exchange Commission to resolve an investigation of potential violations of the Foreign Corrupt Practices Act.
In its 2014 annual report, BHP Billiton said the issues “relate primarily to matters in connection with previously terminated exploration and development efforts, as well as hospitality provided as part of the company’s sponsorship of the 2008 Beijing Olympics.”
The investigation dates back to 2009, when BHP Billiton received requests for information from the SEC. Following that request, the company initiated an internal investigation, and disclosed to relevant authorities evidence of possible FCPA violations involving interactions with government officials.
BHP Billiton stated that it’s also under investigation by the Australian Federal Police, and that it “continues to fully cooperate with the relevant authorities,” the company stated. “In light of the continuing nature of the investigations, it is not appropriate at this stage for BHP Billiton to predict outcomes.”
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