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Two South African Companies Dodge FCPA Charges

Jaclyn Jaeger | June 24, 2015

The Securities and Exchange Commission this month closed two separate investigations into potential violations of the Foreign Corrupt Practices Act without bringing any enforcement actions. Each investigation involved alleged bribery payments made by South African companies.

In the most recent case, the SEC on June 22 informed South Africa-based gold mining company Gold Fields that it had closed its FCPA investigation and would not be bringing an enforcement action, according to a statement released by the company. The SEC launched its investigation in 2013 after reports surfaced that Gold Fields intended to bribe African National Congress chairwoman Baleka Mbete in exchange for a mining license.

In the second case, the SEC informed South Africa-based Net1 UEPS Technologies on June 8 that...

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