Exxon Mobil Accounting Probe by SEC Ends With No Action
- Agency said to have found no reason for enforcement action
- New York, Massachusetts still investigating firm’s accounting
Signage displays fuel prices at an Exxon Mobil Corp. gas station.
Photographer: Chona Kasinger/BloombergThis article is for subscribers only.
The Trump administration dropped a two-year-old accounting probe into Exxon Mobil Corp.’s valuation of its reserves and public disclosures about climate change, while inquiries by two Democratic-led states continue.
The U.S. Securities and Exchange Commission sent a letter Thursday to Exxon saying investigators concluded they wouldn’t recommend an enforcement action, the company said Friday. The probe started in 2016, during former President Barack Obama’s administration.