Federal regulators investigate Ohio oil and gas supplier

Ohio-based Fairmount Santrol, a supplier to oil and gas companies, is under investigation by federal regulators who are looking into whether the company violated securities laws governing international operations, reports Columbus Business First. The newspaper says the company, located near Cleveland, is being investigated under the Foreign Corrupt Practices Act which prohibits publicly traded U.S. companies from paying bribes to foreign officials for help in getting or keeping business. Fairmount Santrol is cooperating with the investigation and strictly forbids "any such conduct,” said a spokeswoman for the company, which is one of the world's biggest providers of sand-based proppant used in hydraulic fracturing operations. For more, read the full story.