- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-04-20T15:34:00
Italian oil company Eni will pay $24.5 million to settle SEC charges that it violated the Foreign Corrupt Practices Act with regard to the award of certain contracts to its former subsidiary Saipem in Algeria.
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Italian oil company Eni said in a recent regulatory filing it is in “advanced discussions” regarding a resolution to an SEC probe into allegations of corruption for the award of certain contracts in Algeria.
A report filed this month by Italian oil giant Eni shows how corruption allegations against it now include Nigeria, Iraq, Kazakhstan, Algeria, and Congo. The number of enforcement authorities, employees, and subsidiaries involved is also spreading.
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