UNITED STATES OF AMERICA

UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 98423 / September 18, 2023

ADMINISTRATIVE PROCEEDING

File No. 3-18843

:

In the Matter of

:

:

Petróleo Brasileiro S.A. - Petrobras, :

:

Respondent.

:

:

ORDER DIRECTING

DISBURSEMENT OF FAIR FUND

On June 28, 2021, the Commission published a Notice of Proposed Plan of Distribution

and Opportunity for Comment (“Notice”),1 pursuant to Rule 1103 of the Commission’s Rules on

Fair Fund and Disgorgement Plans (the “Commission’s Rules”);2 and simultaneously posted the

Proposed Plan of Distribution (the “Proposed Plan”). The Notice advised interested persons that

they could obtain a copy of the Proposed Plan from the Commission’s public website or by

submitting a written request to Nancy Chase Burton, United States Securities and Exchange

Commission, 100 F Street, NE, Washington, DC 20549-5876. The Notice also advised that all

persons desiring to comment on the Proposed Plan could submit their comments, in writing,

within 30 days of the Notice. The Commission received no comments on the Proposed Plan

during the comment period. On August 27, 2021, the Division of Enforcement, pursuant to

1

2

Exchange Act Rel. No. 92274 (June 28, 2021).

17 C.F.R. § 201.1103.

delegated authority, issued an order approving the Proposed Plan,3 and posted the approved Plan

of Distribution (the “Plan”).

The Plan provides for the distribution of the Fair Fund, plus accumulated interest to the

harmed investors according to the methodology set forth in the Plan.

In accordance with the Plan, the Claims Bar Date4 has passed and all timely submitted

claims have been processed by the Fund Administrator. All investors whose claims have been

denied, in whole or in part, have been notified and provided the opportunity to cure.

Pursuant to the Plan, the Fund Administrator has submitted a payment file to Commission

staff with a reasonable assurances letter as to the completeness and accuracy of the information

contained therein. The Commission staff has reviewed and accepted the payment file and

requests, pursuant to Rule 1101(b)(6) of the Commission’s Rules, 17 C.F.R. § 201.1101(b)(6),

that the Commission authorize the transfer of $91,645,380.17 from the Fair Fund to the Fair

Fund’s escrow account at The Huntington National Bank, N.A. for distribution by the Fund

Administrator to the eligible claimants in accordance with the Plan.

Accordingly, it is hereby ORDERED, that Commission staff shall transfer

$91,645,380.17 from the Fair Fund to the Fair Fund’s escrow account at The Huntington

National Bank, N.A., and the Fund Administrator shall distribute such monies to the eligible

claimants in accordance with the Plan.

For the Commission, by the Division of Enforcement, pursuant to delegated authority.5

Vanessa A. Countryman

Secretary

3

See Order Approving Plan of Distribution, Exchange Act Rel. No. 92787 (Aug. 27, 2021).

All capitalized terms used herein but not defined shall have the same meanings ascribed to them in the Plan.

5

17 C.F.R. § 200.30-4(a)(21)(v).

4

2