In the Matter of Petróleo Brasileiro S.A. - Petrobras

Decisions and steps

1. 27 September 2018Cease and desist order with US$933,473,797 in disgorgement and interest and a US$853.2 million penalty, subject to offsets^S2S5

Claims this case bears on

• Supported88
  The US Justice Department said in September 2018 that Petrobras executives facilitated hundreds of millions of dollars in bribes to Brazilian politicians and parties and concealed them in the company's books.
  Regulator statement, 27 September 20185 records citedBribery
• Partly supported79
  Petrobras said in January 2018 that it was a victim of the Lava Jato scheme.
  Company statement, 3 January 20185 records citedBribery
• Supported75
  Petrobras agreed in January 2018 to pay US$2.95 billion to settle the US securities class action without admitting wrongdoing.
  Company statement, 3 January 20182 records citedDisclosure

Sources

1. S2Tier A Petrobras Reaches Settlement With SEC for Misleading InvestorsUS Securities and Exchange Commission. Regulator press release. 27 September 2018.Supports the SEC charge and the amounts with offsets. It states no admit or deny language.
2. S5Tier A In the Matter of Petróleo Brasileiro S.A. - Petrobras, Order Instituting Cease-and-Desist ProceedingsUS Securities and Exchange Commission. Regulator order. 27 September 2018.SEC order in File No. 3-18843 with disgorgement of US$711 million, interest of US$222,473,797 and a US$853.2 million penalty. The order records that Petrobras admits the Commission's jurisdiction. The fetched text showed no admit or deny wording. The en dash in the original caption is shown as a hyphen.