By Kyle Brasseur2023-02-08T18:37:00
Michigan-based manufacturer Gentex Corp. agreed to pay $4 million as part of a settlement with the Securities and Exchange Commission (SEC) regarding alleged failures in its internal accounting controls that affected executive and employee bonus compensation programs over several years.
The enforcement action, announced Tuesday, is the latest under the SEC’s earnings per share initiative, in which the Division of Enforcement uses data analytics to uncover accounting and disclosure violations by public companies. In addition to the penalty, Gentex was ordered to cease and desist from future violations of the Securities Exchange Act.
Kevin Nash, Gentex’s chief financial officer, agreed to pay $75,000 in settling with the SEC over his alleged role in the company’s control lapses. Nash served as Gentex’s chief accounting officer during the relevant period.
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SEC Commissioner Hester Peirce warned about “potential pitfalls” with structured data, which regulators and lawmakers have embraced as a way to make data accessible and easy to use.
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The chief compliance officers of Google and Uber offer insight into how their data analytics compliance programs have evolved amid enhanced scrutiny on use of technology from the Department of Justice.
2022-08-04T15:15:00Z By Aaron Nicodemus
Medical implant manufacturer Surgalign will pay a $2 million penalty handed down by the SEC and recoup nearly $600,000 in incentive-based compensation from four senior executives who allegedly manipulated the company’s financial statements.
2025-10-20T18:07:00Z By Adrianne Appel
Three executives of a multinational voting machine company in the crosshairs of President Donald Trump since 2020 have been indicted in Florida by the U.S. Department of Justice for allegedly paying $1 million in bribes to the Philippines top election official.
2025-10-20T17:29:00Z By Ruth Prickett
U.K. motor finance companies are preparing to pay billions in compensation after a Supreme Court ruling found they sold unfair car loans over many years, failing to disclose key information and denying consumers the chance to compare deals or negotiate.
2025-10-17T21:09:00Z By Oscar Gonzalez
Even though the U.S. federal government is currently shut down, the U.S. Securities and Exchange Commission appears to still be at work. The financial regulator is reportedly investigating a major insurance and asset management company over its accounting practices.
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