SEC fines Maximus $500K for not disclosing pay of exec’s siblings


Government healthcare services corporation Maximus agreed to pay a $500,000 fine levied by the Securities and Exchange Commission (SEC) for allegedly failing to disclose an executive’s two siblings were also employed by the company and received annual compensation of more than $120,000.

Maximus will also cease and desist from further violations in reaching settlement, the SEC announced in an administrative proceeding Monday.

In October 2019, Maximus’s board of directors appointed a business segment leader and longtime employee as an executive officer, according to the SEC’s order.

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