- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2022-09-13T19:06:00
VMware will pay $8 million to settle allegations from the Securities and Exchange Commission (SEC) it misled investors by hiding its lagging financial performance.
The California-based provider of cloud services tried to keep its slowing performance under wraps during its 2019 and 2020 fiscal years by withholding the delivery of license keys customers had purchased until after quarter-end, the SEC claimed in an order filed Monday. This allowed the company to allegedly shift tens of millions in revenue to subsequent quarters in fiscal year 2020, when business had slowed.
The company’s aim was to make it appear it was meeting its financial projections, claimed the SEC, which deemed the omissions material.
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President-elect Donald Trump appeared to strengthen his ties to the crypto industry when he nominated a popular crypto advocate, Patomak Global Partners founder Paul Atkins, to be the next chairman of the Securities and Exchange Commission.
With a new political regime ready to take over in the U.S., the effectiveness of sanctions against malign foreign actors like Russia, North Korea, and Iran have come into question. While the European Union and U.K. have increased sanctions pressure, critics have publicly asked: Is it enough?
German petrochemical parts supplier Aiotec agreed to pay $14.5 million to settle allegations that it engaged in a four-year conspiracy to dismantle and ship a plastics manufacturing plant owned by a U.S. company to Iran, in violation of U.S. sanctions.
Kiromic BioPharma will pay no fine to the Securities and Exchange Commission after self-reporting that it failed to disclose material information about two cancer drugs to investors.
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
French defense and aviation contractor Thales Group is under investigation by authorities in the U.K. and France for allegedly participating in bribery and corruption.
