ANTICORRUPTION DEVELOPMENTS –
SBM Offshore N.V. Agrees to Pay $238 Million to Resolve DOJ FCPA Enforcement Action -
On November 29, 2017, SBM Offshore N.V. (SBM), a Netherlands based company specializing in the manufacture and design of offshore drilling equipment, and its wholly owned subsidiary, SBM Offshore USA Inc. (SBM USA), agreed to pay $238 million to resolve the Department of Justice (DOJ)’s investigation of alleged violations of the anti¬bribery provisions of the Foreign Corrupt Practices Act (FCPA). SBM entered into a non-prosecution agreement with the DOJ while SBM USA pleaded guilty to one count of conspiring to violate the FCPA.
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