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
-
ArticleSeven years in, GDPR faces growing challenges from AI and ‘consent or pay’ models
Europe’s pioneering data protection legislation turned seven years old in May, but the compliance and enforcement difficulties that have dogged the rules since they came into force look set to present both companies and data regulators with fresh headaches for some time to come.
-
News BriefDOJ charges crypto executive with laundering $530M for sanctioned Russian banks
The Department of Justice has charged the founder of cryptocurrency company Evita with 22 violations for allegedly laundering more than $500 million through U.S. banks and cryptocurrency exchanges, on behalf of sanctioned Russian entities.
-
News BriefSEC Chair Atkins signals end to ‘regulation by enforcement’ in line with Trump’s pro-crypto agenda
The Securities and Exchange Commission Chair Paul Atkins explained his agency’s shift on cryptocurrency regulation to a Senate committee as legislators bargain over President Donald Trump’s “One Big Beautiful Bill” and the GENIUS Act, which would have the federal government invest heavily in cryptocurrency.