BP says SEC making “enquiries into securities matters in relation to the incident”


BP has just disclosed the Securities and Exchange Commission and Department of Justice began "informal enquiries into securities matters arising in relation to the incident."

CNBC reports that "BP would not provide details on what securities issues are involved."

Potential criminal violations have been discussed by Attorney General Eric Holder, though, according to CNBC, "he did not raise the potential of any financial fraud in connection with the spill."

Bloomberg reported that BP officials knew the Macondo well was cracked and leaking fluid into surrounding rocks by February 13, over two months before the blow-out.

On March 10, a BP executive informed the Minerals Management Service, “We’re in the midst of a well control situation.” Of the March 10 incident, top oil industry expert Robert Bea says it was a "showstopper... they damn near blew up the rig."

Yet, the Telegraph writes Hayward, "Disposed of 223,288 [BP] shares on March 17."

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