- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-09-18T16:10:00
Ridesharing company Lyft agreed to pay a $10 million penalty to settle allegations by the Securities and Exchange Commission (SEC) it failed to disclose a pre-initial public offering (IPO) stock deal that netted a member of its board millions of dollars.
Lyft agreed to cease and desist from further violations in reaching settlement, the SEC announced in a press release Monday. The stock deal involved approximately $424 million worth of private shares, roughly 2.6 percent of the company prior to its 2019 IPO.
In March 2019, an unnamed Lyft board director set up a deal for a shareholder to sell 7.7 million shares to a special purpose vehicle. The investment adviser who arranged the deal was affiliated with the board director, the SEC said in its order.
2024-03-08T17:23:00Z By Jeff Dale
Footwear company Skechers agreed to pay $1.25 million to settle charges by the Securities and Exchange Commission of failing to disclose payments to executives’ family members.
2023-09-27T18:23:00Z By Jeff Dale
Investment adviser AssetMark agreed to pay more than $18 million to settle allegations by the Securities and Exchange Commission regarding undisclosed conflicts of interest involving its affiliate’s cash sweep program and its revenue-sharing arrangements with third parties.
2023-07-05T17:10:00Z By Kyle Brasseur
The impact of new technologies like generative artificial intelligence on the third-party risk management landscape was among the points of discussion addressed at Compliance Week’s TPRM Summit in Atlanta.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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