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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-04-03T19:21:00
Three executives at the U.S. subsidiary of an Australian defense contractor were charged with accounting fraud for allegedly participating in a three-year scheme to lower cost estimates and prematurely book revenue.
Craig Perciavalle, former Austal USA president; William Adams, former combat ships director; and Joseph Runkel, current director of financial analysis, were charged with violating the antifraud provisions of the Securities Exchange Act, the Securities and Exchange Commission (SEC) announced Friday. The agency said it will seek disgorgement plus prejudgment interest, civil penalties, and officer-and-director bars in its ongoing litigation.
Austal USA is an Alabama-based subsidiary of Austal Limited and has contracts to build vessels for the U.S. Navy.
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News and analysis for the well-informed compliance or audit exec.
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2023-10-31T16:13:00Z By Kyle Brasseur
Flooring manufacturer Mohawk Industries disclosed it does not expect to face enforcement from the Securities and Exchange Commission regarding allegations of violations of securities laws raised in a class-action lawsuit that the company agreed to pay $60 million to settle.
2023-06-06T15:56:00Z By Kyle Brasseur
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Brazilian reinsurance company IRB Brasil RE agreed to pay $5 million to harmed investors after its former chief financial officer allegedly lied about Berkshire Hathaway investing in the company.
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RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
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