GFI Gold Fields Ltd

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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