Houston-based Hyperdynamics Corp., an E&P working offshore the Republic of Guinea in West Africa, announced its consent to the entry of an administrative cease-and-desist order by the U.S. Securities and Exchange Commission, the company said Sept. 29.

The order concerns the books and records and internal control provisions of the U.S. Securities Exchange Act of 1934. As previously disclosed, the SEC had issued a subpoena to Hyperdynamics concerning possible violations of the Foreign Corrupt Practices Act (FCPA).

This settlement fully resolves the SEC's investigation. As previously disclosed in May 2015, the DOJ closed its investigation into possible FCPA violations by Hyperdynamics without bringing any charges against the company.

The allegations in the order relate to certain issues concerning the company's books and records and internal controls in 2007 to 2008. Hyperdynamics consented to the SEC order without admitting or denying the SEC's findings and agreed to pay a $75,000 penalty to the SEC.

In reaching this resolution, the commission considered remedial acts undertaken by the company and cooperation afforded the commission staff. The SEC order recognizes that, beginning in July 2009, Hyperdynamics replaced its senior management team and its entire board of directors, revised its policies, implemented training programs, increased its legal and accounting personnel and instituted a series of procedures to more strictly control transfers of funds.