SEC’s Iron Fist: Halliburton Agrees to Pay 29.2 Millions Dollars to Settle

The Multinational company Halliburton has agreed to pay 29.2 Millions Dollars to settle the US Securities and Exchange Commission.

The agency has filed case against of the oilfield services provider due to violations of the booked, records and internal accounting controls provisions of the Foreign Corrupt Practices Act.
The company also consented to hire an independent compliance consultant to the supervise. Its has anti corruption policies and procedures in Africa. The firm of a former vice president was meted a fine of 75,000 dollars for his key role in the violations.
The year of 2008 the officials of Angolan state oil firm Sonangol advised to Halliburton officials to partner with local businesses in Angola to comply.
The Halliburton eventually out of sourced over 13 Millions Dollars worth of projects to its local partner company.
The Enforcement of Division Associate Director Halliburton has failed to follow the internal accounting controls.

SEC clamping on violators:----
The Meanwhile the SEC has announced two whistleblower awards. The first award which is worth over 1.7 millions dollars was given to a company insider who provided the information about a fraud but that is difficult to identify now.
The second award of almost 2.5 millons dollars was given to a local government agency employees who assisted to investigating and eventually stopping a misconduct many companies. they has not been focusing on imposing regulations on traditional companies.
Wild West in ICO's may soon be over : ---
it already started its probe of Blockchain technologies and companies in June.
A couple of years ago, its strict regulations also closed down two exchanges. they was also ordered to pay fines of 8.2 million dollars over a class action lawsuit.
That the Wild West in Blockchain investment may soon be over as the US regulatory body. but possibly ensuring that all regulations and guidelines being imposed.

Source https://cointelegraph.com/news/secs-iron-fist