Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

SEC settles accounting charges with no monetary penalty

Tammy Whitehouse | January 4, 2019

The Securities and Exchange Commission recently settled charges with an organic foods producer over allegations of accounting and control errors tied to sales incentives.

Most noteworthy about the case, however, is the SEC’s determination to levy no civil penalty, crediting the company with its prompt internal investigation, self-reporting, and significant remedial measures. The SEC issued the typical cease-and-desist order with no other penalty attached.

John Nowak, a partner in the law firm Paul Hastings, along with associate Jeanette Kang, called out the enforcement action, describing it as a “rare departure from typical practice” for the SEC. “...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.