Och-ZiffCapital Management Group LLC and OZ Management LP will pay about $199 million to settle along-standing international bribery investigation by the SEC, according to anadministrative proceeding released Sept. 29.

The $199 million penalty is composed of disgorgement ofabout $173.2 million and prejudgment interest of $25.9 million.

The SEC found that between 2007 and 2011, the companyentered transactions and investments that involved paying bribes tohigh-ranking government officials of Libya, Chad, Niger and the DemocraticRepublic of the Congo. The bribes were paid "to corruptly influenceforeign government officials in order to obtain or retain business" for thecompany or its business partners, the SEC wrote.

One senior executive and another investment professional atOch-Ziff were aware of the bribes, while other executives at the companyignored red flags and corruption risks, the order stated.

The company's chairman and CEO, Daniel Och, and its CFO,Joel Martin Frank, were also named as respondents in the order.

Och was ordered to pay disgorgement of $1.9 million andprejudgment interest of $273,718, for a total payment of about $2.2 million.

Och-Ziff and OZ Management agreed to implement enhancedcontrols over their investments in foreign private equity and to limit theiruse of offshore holding companies as recipients for funds in such transactions.Och-Ziff and OZ Management agreed to create a chief compliance officer position.

Och-Ziff's general counsel and chief compliance officer willalso receive veto power "over all matters coming before the company'sBusiness Risk Committee," the order stated.

The Department of Justice also levied a penalty of about $213.1 million on thecompany to settle its own proceedings over the bribery allegations.