Frank’s International, a Netherlands-based oil and gas company, said in a filing with the Securities and Exchange Commission that it is conducting an internal investigation into operations of certain of its foreign subsidiaries in West Africa including possible violations of the U.S. Foreign Corrupt Practices Act, the company’s policies and other applicable laws.
In June 2016, the company said it voluntarily disclosed the existence of its extensive internal review to the SEC and the Department of Justice. “It is the company’s intent to fully cooperate with these agencies and any other applicable authorities in connection with any further investigation that may be conducted in this matter,” the company said in a Form 8-K filing, dated June 18.
While the company’s review does not point to any material impact on its previously filed financial statements, the company said it continues to collect information and is unable to predict the ultimate resolution of these matters with these agencies.
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