All Securities and Exchange Commission articles – Page 30
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ArticleKT to pay $6.3M in SEC settlement for FCPA violations
KT Corp., South Korea’s largest telecom operator, will pay $6.3 million in a settlement with the Securities and Exchange Commission for violations of the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act.
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ArticleReport: Accounting enforcement at SEC, PCAOB down in 2021
The amount of accounting and audit enforcement actions by the Securities and Exchange Commission and Public Company Accounting Oversight Board decreased in 2021, resulting in a sharp decline in monetary settlements, according to Cornerstone Research.
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ArticleIndictment: Infinity Q founder’s attempts to hide fraud aided by CCO
The Department of Justice charged James Velissaris, the former chief investment officer and founder of Infinity Q Capital Management, for his role in a scheme to defraud investors by overvaluing derivative swap positions.
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ArticleBlockFi ruling leaves big crypto question unresolved
The SEC’s determination regarding BlockFi’s crypto lending product is a landmark resolution, yet the ruling does little to settle the larger question still looming: Are cryptocurrencies securities or currencies?
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ArticleSEC, states fine BlockFi $100M; crypto lending product declared a security
BlockFi Lending agreed to pay $100 million in penalties as part of a first-of-its-kind case in which the Securities and Exchange Commission declared a type of cryptocurrency lending product should be registered as a security.
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ArticleSEC proposal seeks to undo Trump-era whistleblower changes
The Securities and Exchange Commission will seek to undo several changes to the agency’s whistleblower program enacted during the Trump administration to potentially limit large awards.
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ArticleSEC proposes enhanced disclosures for private equity and hedge funds
The Securities and Exchange Commission voted to propose a rule that would require hedge funds and private equity funds to provide detailed information on fees, expenses, and performance on a quarterly basis.
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ArticleTesla discloses new SEC subpoena over Elon Musk settlement
Electric car maker Tesla disclosed in a regulatory filing it received a subpoena from the SEC regarding its settlement with the regulator designed to rein in CEO Elon Musk’s Twitter posts.
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ArticleAA study: Total audit fees decline in 2020 for first time in decade
Total and average audit fees in 2020 each declined for the first time since 2010, according to the latest Audit Analytics research.
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ArticleRemedial actions help HeadSpin avoid fine in SEC fraud settlement
Silicon Valley-based tech company HeadSpin’s significant remedial actions in response to its chief executive’s alleged fraudulent behavior helped it settle charges with the Securities and Exchange Commission without being fined.
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ArticleSEC reopens comment period on Dodd-Frank pay vs. performance rule
The Securities and Exchange Commission reopened the comment period for its pay versus performance rule, a long-dormant provision contained in the Dodd-Frank Act that was never implemented.
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ArticleESG reporting: A summary of preparers’ perspectives
Preparers speaking at a pair of recent high-profile accounting and auditing conferences discuss current practices and the challenges their controllership teams face in ESG reporting and governance.
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ArticleGensler says SEC to consider new rules for cybersecurity, data privacy disclosures
The Securities and Exchange Commission is kicking the tires on new cybersecurity and data privacy disclosure requirements for investment companies, investment advisers, broker-dealers, and public companies, according to agency Chair Gary Gensler.
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ArticleCCO liability framework seeks to acknowledge compliance support concerns
The National Society of Compliance Professionals has drafted a framework that urges regulators to consider chief compliance officer liability more holistically, in the context of the compliance culture within a CCO’s firm.
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ArticleReport: FCPA investigations, enforcement actions hit 10-year lows in 2021
The number of enforcement actions brought under the Foreign Corrupt Practices Act in 2021 fell to the lowest total in a decade, according to a new report by the FCPA Clearinghouse at Stanford Law School.
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ArticleDiMauro: Seven compliance areas to watch in 2022
If 2021 was about transition under the Biden administration, 2022 is looking as if it will be a year of action. CW Director of Compliance Programs & Training Julie DiMauro shares her list of key areas she expects to receive enhanced scrutiny in the year ahead.
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ArticleSEC charges Medallion Financial with fraud, illegal touting
The SEC charged New York City taxi medallion loan company Medallion Financial with participating in two illegal schemes to pump up the declining value of its stock. Also charged was California-based media strategy company Ichabod’s Cranium.
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ArticleLordstown Motors names new general counsel amid SPAC probes
Lordstown Motors, currently under investigation by the Justice Department and the SEC, announced the appointment of Melissa Leonard as executive vice president, general counsel and secretary.
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ArticleGlobal Infrastructure Management fined $4.5M for compliance failures
Registered investment adviser Global Infrastructure Management has agreed to pay a $4.5 million civil penalty as part of a settlement reached with the SEC for fee offset and disclosure failures caused by deficiencies in its compliance program.
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ArticleNikola to pay $125M to settle SEC fraud charges
Electric semitruck startup Nikola agreed to pay $125 million to settle charges brought by the SEC for defrauding investors by misleading them about its products, technical advancements, and commercial prospects.