A former Innospec Inc chief executive has settled US regulatory charges accusing him of approving bribery payments by the specialty chemicals company to Iraqi oil officials.
The US Securities and Exchange Commission said Paul Jennings, the former chief executive, will pay about $229,000 to settle, including a $100,000 penalty that took his co-operation into account. He did not admit wrongdoing. A lawyer for Jennings did not immediately return a call seeking a comment.