Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Vantage Drilling reaches ‘agreement in principle’ with SEC in FCPA case

Jaclyn Jaeger | May 9, 2018

Offshore drilling contractor Vantage Drilling Co. said in a securities filing that it has “reached an agreement in principle” with the Securities and Exchange Commission regarding a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.

In August 2015, Vantage Drilling Co. (VDC) disclosed in a quarterly report that it “became aware of media reports” that Hamylton Padilha, one of its agents in Brazil used in the contracting of the Titanium Explorer drillship, “has entered into a plea arrangement with the Brazilian authorities in connection with the agent’s role in obtaining bribes on behalf of former Petrobras executives.” VDC said it confirmed that the agent provided evidence to the Brazilian authorities of an “alleged bribery scheme between the former Petrobras executives and a former director of...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.