BJ Services Company
BJ Services Company
United States
Securities and Exchange Commission
Legal Person
Consent to Cease-and-Desist Order
Art.15, Art.26
Art. 1, Art. 2, Art. 8
Bribery of foreign officials, Internal controls violations, Falsification of books and records
No admission or denial of allegations
No (Customs)
According to the June 2011, US Report to the Organisation for Economic Co-operation and Development, "Steps taken to implement and enforce the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions": "On March 10, 2004, the SEC instituted settled administrative proceedings against BJ Services Company (BJ Services), for violations of the anti-bribery, internal controls, and books and records provisions of the FCPA. According to the SEC's filing, during 2001, BJ Services, through its wholly owned Argentinean subsidiary B.J. Services, S.A. ("BJSA"), made illegal or questionable payments, totaling approximately 72,000 pesos to Argentinean customs officials. Further, from 1998 through April 2002 certain undocumented or improperly characterized payments were made totaling approximately 151,000 pesos. In certain instances, entries were made in BJSA's books and records to conceal the payments. During the same period, BJ Services experienced certain breaches in the existing accounting policies, controls and procedures in certain areas of its Latin American Region." (Source: BJ Services Case Summary at 124.) Please note that as part of the Cease-and-Desist order proceedings, BJ Services Company did not admit or deny the SEC's findings. (Source: US Securities and Exchange Commission, In the Matter of BJ Services Company, Administrative File No. 3-11427, March 10, 2004.)