All SEC articles – Page 61
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Article
Lumber Liquidators to pay $33M for securities fraud
Lumber Liquidators Holdings, a discount retailer of hardwood flooring, will pay a total of $33 million in criminal and regulatory penalties for misleading investors concerning the sale of its laminate flooring from China to its customers in the United States.
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Article
Companies tie loose ends on leasing, prepare ongoing accounting
Companies generally are expected to be ready to report under new lease accounting rules but still face some added work to prepare for ongoing compliance.
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ArticleSEC’s Peirce supports reconsideration of SOX 404(b)
As internal control heartburn persists for many public companies, at least one member of the SEC would welcome changes to the Sarbanes-Oxley Act.
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Article
BB&T Securities to pay $5.7M for misleading clients
BB&T Securities has reached a $5.7 million settlement with the Securities and Exchange Commission to settle charges that a firm it acquired misled its advisory clients.
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ArticleCompanies face first reporting under new hedge rules
Hedge accounting rules, now taking effect, may have fallen under the radar as companies wrestled bigger changes to revenue recognition, leasing, and credit losses.
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Blog
Kraft Heinz discloses probe, takes $15.4B impairment charge
Following a string of accounting and reporting problems, Kraft Heinz Co. disclosed it is under investigation by the SEC and reported a $15.4 billion impairment charge.
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BlogSEC, Congress seek better diversity disclosures
The SEC has issued new guidance regarding diversity disclosures. Meanwhile, newly proposed legislation would require public companies to annually disclose the gender, race, and veteran status of their board directors, nominees, and senior executive officers.
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ArticleSEC once again dragged into fight over mandatory arbitration
The SEC was spared setting mandatory arbitration policy when New Jersey’s attorney general argued a shareholder initiative proposed for Johnson & Johnson would be illegal.
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Blog
SEC charges former senior attorney at Apple with insider trading
The Securities and Exchange Commission today filed insider trading charges against a former senior attorney at Apple whose duties included executing the company’s insider trading compliance efforts.
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Blog
Deloitte Japan settles $2 million independence charge
Deloitte Japan has agreed to a $2 million penalty to settle charges with the SEC over auditor independence violations.
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Blog
Court orders $1B judgment against operators of Woodbridge Ponzi scheme
A federal court in Florida has ordered Woodbridge Group of Companies and its former owner to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors.
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Blog
Companies adjust revenue disclosures, grapple costs
Companies are changing their revenue recognition approach as they move from quarter to quarter, and they’re tallying higher-than-expected costs, poll says
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Blog
IOSCO report gives marching orders to audit committees
Securities regulators globally have banded together to call on audit committees to take a fresh look at their role in promoting and supporting quality audits.
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Blog
SEC settles with 4 companies over prolonged control lapses
Apparently thumbing their noses at internal control requirements, four public companies have now settled charges with the SEC over prolonged failures to maintain ICFR.
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Blog
SEC starts slow post-shutdown process of returning to normalcy
As the government reopens after a month-long shutdown, the SEC is among the agencies returning to normal operations. Companies, however, should expect to vie for assistance on a "first come, first served" basis.
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Blog
EY forms independent audit quality committee
EY has joined the rest of the Big Four in seeking independent consult on audit quality, forming a committee of outside experts to advise firm leaders.
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Blog
When earnings precede audit, auditors cave, study finds
Absent a strong audit committee, management can get an upper hand over auditors when it releases unaudited earnings results to the market, a new study says.
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ArticleShutdown starts to pose new risks for businesses
The longest government shutdown in U.S. history is increasingly a catalyst for new risks and tough choices for corporations.
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Blog
Restatements declined with adjustments, analysis shows
As restatements numbers have fallen in recent years, so too have out-of-period adjustments, according to a recent analysis by Audit Analytics.
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Article
SEC faces lawsuit over ‘gag orders’ in enforcement settlements
The Cato Institute, a libertarian think tank, is suing the SEC over the mandatory “gag orders” it has added to its enforcement-based settlement agreements for nearly 40 years.