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SEC Cease Order.pdf

34-74619.pdf

🔗 Source: sec.gov

📊 Size: 154 KB

👤 Author: U.S. Securities and Exchange Commission

⬇️ Downloads: 92

Summary

The US Securities and Exchange Commission (SEC) instituted cease-and-desist proceedings against KBR, Inc. for violating Rule 21F-17 of the Securities Exchange Act of 1934. KBR used a confidentiality statement that prohibited employees from discussing interview details without prior authorization from the law department, potentially impeding communications with the SEC about securities law violations. Although no instances of prevention or enforcement were found, the language undermined the purpose of Section 21F and Rule 21F-17(a). KBR amended its confidentiality statement to allow reporting of federal law violations to governmental agencies without prior authorization. The company agreed to contact affected employees, provide them with the order, and certify compliance. The SEC deemed it appropriate to impose a cease-and-desist order, considering KBR's undertaking to make reasonable efforts to contact employees and provide them with the necessary information.

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Description

KBR, Inc. faces cease-and-desist proceedings by the SEC. The company submitted an Offer of Settlement, which the Commission accepted. This is pursuant to Section 21C of the Securities Exchange Act of 1934.

Technical Information

File Format: PDF
File Size: 154 KB
Pages: 4
Language: EN
Author: U.S. Securities and Exchange Commission
Total Downloads: 92
Last Updated: 1 week ago

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