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BIL 201505200032A
BHP Billiton Announces End of US Investigations
BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE
Release Time IMMEDIATE
Date 20 May 2015
Number 11/15
BHP BILLITON ANNOUNCES END OF US INVESTIGATIONS
- U.S. Department of Justice (DoJ) to take no action
- U.S. Securities and Exchange Commission (SEC) investigation that commenced
in 2009 resolved on all matters
- No findings of bribery or corrupt intent
- DOJ’s ‘no action’ and SEC resolution conclude the U.S. investigations
- SEC imposes a civil penalty relating to accounting provisions of the FCPA
- SEC notes BHP Billiton’s “significant cooperation” and “significant remedial
actions”
- SEC findings relate to BHP Billiton’s internal controls and books and records
governing its hospitality program at the 2008 Beijing Olympic Games
BHP Billiton today announced the resolution of the previously disclosed investigation by the
SEC into potential breaches of the United States Foreign Corrupt Practices Act (FCPA). The
DOJ has also completed its investigation into BHP Billiton without taking any action.
The investigations related primarily to previously terminated minerals exploration and
development efforts as well as hospitality provided by the Company at the 2008 Beijing
Olympic Games. This concludes the US investigations on all matters.
BHP Billiton will continue to cooperate with the Australian Federal Police investigation, which
was announced in 2013.
The matter is being resolved with the SEC pursuant to an administrative order which
imposes a US$25 million civil penalty. The SEC Order makes no findings of corrupt intent or
bribery by BHP Billiton.
The findings announced today by the SEC relate to a hospitality program hosted by BHP
Billiton which supported its sponsorship of the 2008 Beijing Olympic Games. As part of this
program, the Company invited customers, suppliers, business partners, and government
officials, along with Company employees, to the Olympic Games. While BHP Billiton made
efforts at the time to address the risks related to inviting government officials to the
Olympics, the controls it relied upon were insufficient to satisfy the civil books and records
and internal accounting controls requirements of the U.S. statute.
The SEC noted the “significant cooperation” BHP Billiton provided during the extensive
investigation, which commenced in 2009. It also noted the “significant remedial actions” the
Company has taken over the past five years to enhance its compliance program.
At the time of its sponsorship of the 2008 Beijing Olympics and Paralympics, BHP Billiton
had no independent compliance function. Instead, accountability for complying with the
Company’s anti-corruption policies, which were set out in the Company’s Guide to Business
Conduct, was vested in its operating business units. The Company has since created an
independent compliance function that reports to the head of the legal function and the Risk &
Audit Committee of the BHP Billiton Board. Today this function would be required to
approve any offer of hospitality of this kind to a government official. Under the SEC Order,
BHP Billiton will self-report on its compliance program for twelve months.
BHP Billiton CEO Andrew Mackenzie said, “We have fully cooperated with the SEC
throughout this process. We have taken the appropriate remedial actions and developed a
world class compliance program that builds on the strong policies we have had in place.
BHP Billiton operates a global resources business and recognises that the highest standards
of business conduct are an essential part of our operations. Our Company has learned from
this experience and is better and stronger as a result.”
Further information on BHP Billiton can be found at: www.bhpbilliton.com.
Sponsor: Merrill Lynch South Africa Proprietary Limited
Media Relations Investor Relations
Australia Australia
Emily Perry Tara Dines
Tel: +61 3 9609 2800 Mobile: +61 477 325 803 Tel: +61 3 9609 2222 Mobile: +61 499 249 005
email: Emily.Perry@bhpbilliton.com email: Tara.Dines@bhpbilliton.com
Paul Hitchins Andrew Gunn
Tel: + 61 3 9609 2592 Mobile: + 61 419 315 001 Tel: +61 3 9609 3575 Mobile: +61 402 087 354
email: Paul.Hitchins@bhpbilliton.com email: Andrew.Gunn@bhpbilliton.com
Eleanor Nichols United Kingdom and South Africa
Tel: +61 3 9609 2360 Mobile: +61 407 064 748
email: Eleanor.Nichols@bhpbilliton.com Jonathan Price
Tel: +44 20 7802 4131 Mobile: +44 7990 527 726
United Kingdom email: Jonathan.H.Price@bhpbilliton.com
Ruban Yogarajah Dean Simon
Tel: +44 20 7802 4033 Mobile: +44 7827 082 022 Tel: +44 20 7802 7461 Mobile: +44 7717 511 193
email: Ruban.Yogarajah@bhpbilliton.com email: Dean.Simon@bhpbilliton.com
Jennifer White Americas
Tel: +44 20 7802 7462 Mobile: +44 7827 253 764
email: Jennifer.White@bhpbilliton.com James Agar
Tel: +1 212 310 1421 Mobile: +1 347 882 3011
Americas email: James.Agar@bhpbilliton.com
Ruban Yogarajah Joseph Suarez
Tel: +44 20 7802 4033 Mobile: +44 7827 082 022 Tel: +1 212 310 1422 Mobile: +1 646 400 3803
email: Ruban.Yogarajah@bhpbilliton.com email: Joseph.Suarez@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number 3196209
Registered in Australia Registered in England and Wales
Registered Office: Level 16, 171 Collins Street Registered Office: Neathouse Place
Melbourne Victoria 3000 Australia London SW1V 1LH United Kingdom
Tel +61 1300 55 4757 Fax +61 3 9609 3015 Tel +44 20 7802 4000 Fax +44 20 7802 4111
Members of the BHP Billiton Group which is headquartered in Australia
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