All SEC articles – Page 45
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ArticleHP fined $6M for disclosure violations and control failures
HP has agreed to pay $6 million in a settlement with the Securities and Exchange Commission to resolve allegations of disclosure violations and control failures regarding improper sales practices.
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Article
Former hedge fund CCO fined, suspended for impeding investigation
The former CCO of a New York City investment firm who impeded a Securities and Exchange Commission investigation into her employer has been fined $25,000 and suspended from practicing before the SEC for a year.
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ArticleBanner year for whistleblowers: SEC issued $175M in awards in FY2020
It’s no wonder the SEC recently issued new rules asserting its right to limit large whistleblower awards, because the agency handed them out in fiscal year 2020 at an unprecedented pace.
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ArticleMorgan Stanley fined $5M for short sales violations
The SEC has hit Morgan Stanley with a cease-and-desist order imposing a censure and a $5 million penalty resulting from violations of Regulation SHO, the agency’s regulations governing short sales.
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ArticleSEC charges Manitex, three former execs with accounting fraud
The SEC has brought charges against Manitex International and three of its former senior executives for engaging in accounting fraud that resulted in the issuance of materially misstated financial statements.
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Article
Compliance failures at JPMorgan highlighted in record $920M spoofing fine
JPMorgan Chase agreed to pay more than $920 million as part of an agreement with three federal agencies to settle allegations that the firm’s traders manipulated the precious metals markets with false trades.
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ArticleWhistleblower awarded $1.7M in SEC’s 100th individual payout
The Securities and Exchange Commission issued its 100th individual whistleblower award Monday when a tipster received $1.8 million for providing the agency with information that alerted staff to ongoing securities violations.
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ArticleFiat Chrysler fined $9.5M for ‘misleading disclosures’ on diesel emissions
Fiat Chrysler Automobiles has agreed to pay $9.5 million to settle allegations from the SEC that it made “misleading disclosures” regarding an internal audit of emission control systems for diesel vehicles it sold in the United States.
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ArticleTwo companies charged in landmark SEC data analytics cases
A new risk-based data analytics initiative at the SEC has been credited for forming the basis of charges against two publicly traded companies for improper reporting of quarterly earnings per share.
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ArticleBoA a silver lining in damning ‘FinCEN Files’ report; Wells Fargo CEO puts foot in mouth
Bank of America gets a pat on the back for going beyond an “observe and report” approach to filing a SAR, and we learned this week that Wells Fargo’s CEO needs a little unconscious bias training.
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ArticleInternal whistleblower exposes fraud at Illinois engine manufacturer
An internal whistleblower exposed a scheme by three executives of a Chicago-area engine manufacturer to improperly inflate revenue and cover their tracks by lying to company accountants and independent counsel.
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ArticleLighting company, four executives fined for improperly booking revenue
A Connecticut industrial lighting company has been fined $1.25 million by the SEC for falsely booking $55 million worth of sales on its financial statements over four years. Four company executives have been fined as well.
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ResourceWhite paper: Additional Tips for Success in Combatting Bribery and Corruption
On July 3, 2020, quietly and with little fanfare, the Criminal Division of the US Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) released the 133-page Resource Guide to the US Foreign Corruption Practices Act, Second Edition (“the FCPA Resource Guide”).
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ArticleWhistleblower advocates up in arms over changes to SEC program
More than two years after proposing them, the Securities and Exchange Commission approved a series of controversial amendments to its whistleblower program designed to make the issuance of awards more streamlined and efficient.
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ArticleFormer Rite Aid compliance exec charged with insider trading
Armed with insider information about problems with a merger with Walgreens, a Rite Aid compliance executive who oversaw its corporate code of conduct sold company stock to save himself and his family over $150,000, according to the SEC.
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Article
CCO for investment firm altered docs to cover compliance failures, SEC says
A New York investment advisor and broker-dealer firm and its former chief compliance officer have been fined and censured for not fixing compliance failures identified by two federal agencies, then altering documents in an attempt to convince investigators the failures had been addressed.
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ArticleSEC continues torrid whistleblower pace with $10M award
More than a quarter of the SEC’s 94 whistleblower payouts since 2012 have come this fiscal year, the latest a more than $10 million award announced Monday.
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ArticleSEC charges chief compliance officer in stock fraud scheme
A New Jersey-based asset management firm and its president and chief compliance officer are facing SEC charges for “cherry-picking” profitable stocks for new and favored accounts that diminished returns for other clients.
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ArticlePactiv Evergreen discloses FCPA probe ahead of IPO
In its IPO filing, foodservice packaging company Pactiv Evergreen (currently Reynolds Group Holdings Limited) announced it might have potentially violated the Foreign Corrupt Practices Act regarding gift cards given in China.
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ArticleEx-GPB Capital CCO pleads guilty to stealing SEC information
A former SEC official facing federal felony charges for allegedly using confidential agency information to help him land the top compliance post at GPB Capital Holdings has pled guilty to a misdemeanor in federal court.