DealBook – S.E.C. Takes Aim At Swiss Company And Detroit Money Market Fund – 27 November 2013

DealBook

By RACHEL ABRAMS and BEN PROTESS

The Securities and Exchange Commission announced a pair of enforcement actions on Tuesday, accusing a Swiss company of bribery and a Detroit money market fund of fraud.

In the bribery case, the S.E.C. filed civil charges against Weatherford International, an oil field services company in Switzerland with a significant presence in Houston. To resolve the case, Weatherford struck a $250 million settlement with the S.E.C. as well as with the Justice department’s fraud section and other government agencies.

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