Civil Enforcement Information - Acteon Group Ltd and KKR & Co. Inc. (Settlement 2 of 2 in web post)

Date issued: Apr. 11 2019

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TURBOFAC Commentary (1819 words)

Notes:

1) Notes on this enforcement action are separate from the first settlement agreement involving the same UK parent company included in the web post. See Civil Enforcement Information - Acteon Group Ltd., and 2H Offshore Engineering Ltd (Settlement 1 of 2 in web post).

THE CACR VIOLATIONS

2) 515.329; "Control" by a Private Equity Firm of a Portfolio Company Not Subject to the CACR On the Basis of Indirect U.S. Person Ownership Alone; Potential "Facilitation" by Acteon.

In the comments to the companion violation, we explain the various potential bases for subjecting the actions of various Acteon-owned or -controlled non-U.S. entities to the prohibitions of the CACR, even though those entities were not themselves "subject to the jurisdiction of the United States" (515.329) on the sole basis of being indirectly owned by U.S.-based investment...