The SEC recently announced that Paul Jennings, the former CEO of Innospec, a global specialty chemical company, agreed to pay more than $229,000 in penalties to settle FCPA charges in connection with alleged bribes of Iraqi and Indonesian officials to win contracts. According to the SEC complaint, Jennings had actively participated for a number of years in bribery schemes that involved payments of more than $6 million in connection with sales that generated $176 million in revenue. The SEC had also alleged that Jennings approved certifications given to auditors containing fraudulent financial statements. Last year, Innospec reached a $40.2 million global settlement of more than a dozen criminal charges in the US and UK.