Skechers fined $1.25M over related person disclosure failures
By 
Jeff Dale2024-03-08T17:23:00
Footwear company Skechers agreed to pay $1.25 million to settle charges by the Securities and Exchange Commission (SEC) of failing to disclose payments to executives’ family members.
Skechers U.S.A. agreed to cease and desist from further violations in reaching settlement, the SEC announced in a press release Thursday. The agency acknowledged remedial acts promptly undertaken by the company and cooperation afforded to commission staff.
From 2019 through 2022, Skechers failed to disclose related person transactions involving two relatives of its executives and a consulting relationship involving a person who shared a household with another executive, the SEC alleged in its order.
Related articles
-
News BriefAnson Funds, affiliate to pay $2.25M for fund disclosure violations
Registered investment adviser Anson Funds Management and exempt reporting adviser Anson Advisers will combine to pay more than $2 million for allegedly misleading investors about their short fund strategy and related recordkeeping violations.
-
News BriefSEC charges attorney over independence violations post-compliance engagement
The Securities and Exchange Commission charged a New York-based attorney for allegedly engaging in improper conduct by violating her obligations to remain independent after preparing an independent compliance report for a company.
-
News Brief
Ex-Marcum partner suspended by SEC over Ault Alliance work
A former engagement quality review partner at Marcum agreed to pay a $30,000 penalty and be suspended as part of a settlement with the Securities and Exchange Commission addressing alleged violations of audit standards in his work at diversified holding company Ault Alliance.
More from Regulatory Enforcement
-
Basic Page‘Extraordinary cooperation’ pays off for PFS Investments
As regulators shift toward rewarding transparency, self-regulation and self-reporting, the way PFS Investments handled a longstanding problem serves as an example of how proactive remediation can turn a costly compliance error into a manageable regulatory outcome.
-
ArticleDOJ charges Texas businessmen in alleged bribery scheme over PEMEX oil contracts
The Department of Justice says two Mexican businessmen living in Texas allegedly bribed Mexican officials to secure $2.5 million in contracts with Petróleos Mexicanos, Mexico’s state-owned oil company, and a subsidiary.
-
ArticleMatch.com agrees to pay $14 million in FTC settlement over subscription practices
Match.com, the online dating site, will pay $14 million and make changes to its membership terms to settle allegations that it made cancellations difficult and made misrepresentations to members, the Federal Trade Commission said Tuesday.