Frank’s International Settles FCPA Allegations for $8 Million

On April 26, 2023, Netherlands-based oil and gas services provider Frank’s International N.V. (now part of Houston-based Expro Group Holdings NV) agreed to an $8‑million settlement with the SEC to resolve FCPA violations for bribing Angolan officials through a sales agent in violation of the FCPA’s anti-bribery, books-and-records and internal accounting controls provisions. According to the SEC order, funds were diverted to an official at Angola’s state-owned oil-and-gas company, Sociedade Nacional de Combustíveis de Angola EP, also known as Sonangol, to influence the awarding of oil-and-natural-gas services contracts. This article examines what the resolution means for compliance practitioners, in the view of Hui Chen, senior advisor at Ropes and Gray, and Matteson Ellis, a partner at Miller and Chevalier. See “Glencore Pleads Guilty and Agrees to Pay $1.1 Billion to Multiple Authorities, But Can It Change?” (Jun. 22, 2022).

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