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Federal Contractor Misconduct Database (FCMD)

The federal government routinely awards contracts to companies with histories of misconduct, including contract fraud and other violations. POGO believes that providing this website will help to improve contracting decisions and increase public knowledge of how the government spends billions of taxpayer dollars each year. Read more…

Violations of Federal Securities Laws

“The United States Securities and Exchange Commission (SEC) and UK Financial Services Authority (FSA) issued formal orders of private investigation in relation to the reserves recategorisation which Royal Dutch and Shell Transport resolved by reaching agreements with the SEC and the FSA. In connection with the agreement with the SEC, Royal Dutch and Shell Transport consented, without admitting or denying the SEC’s findings or conclusions, to an administrative order finding that Royal Dutch and Shell Transport violated, and requiring Royal Dutch and Shell Transport to cease and desist from future violations of, the antifraud, reporting, recordkeeping and internal control provisions of the US Federal securities laws and related SEC rules, agreed to pay a $120 million civil penalty and undertook to spend an additional $5 million developing a comprehensive internal compliance program.” See related Royal Dutch Shell misconduct instances “Employee Retirement Income Security Act Class Action,” “Shareholder Derivative Lawsuit Arising Out of 2004 Reserves Recategorization,” and “European Shareholder Lawsuit Arising Out of 2004 Reserves Recategorization.”

Misconduct Type
Securities
Enforcement Agency
SEC
Contracting Party
None
Court Type
Civil
Disposition
Administrative Agreement
Date of SEC Filing
3/30/2005
Contractors Involved Penalty
Total
Royal Dutch Shell PLC $125,000,000
Further Information Released
SEC 10-K (p. 20 of 21) 10/27/2006

See also:

Federal Contractor Misconduct Database