Gold Fields Says SEC Takes No Action After BEE Probe
June 22 2015 - 3:04AM
Dow Jones News
By Alex MacDonald
LONDON--Gold Fields Ltd. (GFI) said Monday that the U.S.
Securities Exchange Commission, or SEC, has recommended that no
enforcement action be taken against the South Africa-based gold
producer following the completion of an investigation into a black
economic empowerment transaction between the company and a third
party over the company's South Deep asset.
The investigation was carried out by the Foreign Corrupt
Practices Act unit of the SEC.
South Africa's black economic empowerment legislation aims to
improve the socioeconomic standing of the country's majority black
population by setting benchmarks for companies such as black
ownership targets, skills training and development in poor
communities.
-Write to Alex MacDonald at alex.macdonald@wsj.com
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