Shell agrees $150 million fine over reserves scandal, releases interim results

Shell says it will agree to a final notice by the FSA finding that the company breached market abuse provisions of the UK’s Financial Services and Markets Act 2000. In connection with the proposed settlement, Shell will pay a penalty of £17 million ($30.9 million).

The company will also consent to an SEC administrative order finding that it violated the anti-fraud, reporting, record-keeping and internal control provisions of the US federal securities laws and related SEC rules. In connection