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Cobalt: SEC ends second FCPA probe

Jaclyn Jaeger | January 31, 2018

Cobalt International Energy, an independent exploration and production company, disclosed in a securities filing this week that the Securities and Exchange Commission concluded its second investigation into potential violations of the Foreign Corrupt Practices Act related to the company’s operations in Angola and does not intend to bring an enforcement action.

In its securities filing, Cobalt said it received notice of the conclusion of the investigation on Jan. 29. “This formally concludes the SEC investigation, which was opened in March 2017,” Cobalt said in the Form 8-K.

That second investigation concerned an informal inquiry the SEC initiated related to Cobalt’s funding of Sonangol Research and Technology Center, under an... To get the full story, subscribe now.