TEHRAN, Young Journalists Club (YJC) -The U.S. Securities and Exchange Commission has dropped a two-year probe into whether Exxon Mobil's accounting practices were transparent about climate change risk.
A letter to the SEC Thursday obtained by The Wall Street Journal informed Exxon that the probe was closed and the company would not be penalized.
Exxon confirmed in a statement that the probe digging through more than 4 million pages of records starting January 2016 was over. "After a thorough investigation, including a review of these documents, the SEC issued its closure letter," company spokesman Scott Silvestri said in the statement.
The probe began under former chairman Mary Jo White, who was picked by former President Barack Obama, and ended under SEC Chairman Jay Clayton, appointed by President Donald Trump.