All Securities and Exchange Commission articles – Page 52
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ArticleWalmart agrees to $282.7M FCPA resolution
Walmart has agreed to pay a combined total of $282.7 million to resolve a more than seven-year investigation resulting from violations of the Foreign Corrupt Practices Act.
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Wedbush to pay more than $8.1M for improper handling of ADRs
Wedbush Securities will pay more than $8.1 million to settle charges for the improper handling of “pre-released” American Depositary Receipts.
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ArticleSEC takes questions on knock-on effects of new lease rules
SEC staff members met with the Center for Audit Quality’s SEC Regulations Committee to acknowledge concerns and answer questions associated with new lease accounting rules.
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SEC eyeing non-GAAP numbers that alter GAAP
SEC staff members are signaling to public companies that they still have concerns over uses of non-GAAP measures that seem to thumb their nose at GAAP.
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ArticleOCIE’s Driscoll on importance of CCOs
Peter Driscoll, director of the SEC’s Office of Compliance Inspections and Examinations, recently spoke on the role of compliance officers in protecting retail investors.
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ArticleSEC amendments could tailor accelerated filer definitions
The Securities and Exchange Commission has voted to propose amendments to the accelerated filer and large accelerated filer definitions.
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Former SEC Commissioner Kara Stein joins IEX board
Former SEC Commissioner Kara Stein has joined the board of directors of the Investors Exchange.
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ArticleCeladon Group to pay $42.2M in restitution for accounting fraud
Trucking company Celadon Group entered into a corporate resolution for securities fraud and will pay total restitution of $42.2 million for filing materially false and misleading statements to investors and falsifying books, records, and accounts.
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ArticleOCIE issues risk alert on Regulation S-P
The SEC’s Office of Compliance Inspections and Examinations has issued a risk alert on Regulation S-P describing the most common deficiencies it has uncovered in recent examinations of both registered investment advisers and broker-dealers.
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Tesla to phase out four board members
Tesla disclosed in a filing with the Securities and Exchange Commission that four of its directors eventually will be phased out, reducing the size of its board to seven.
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ArticleQ4 control disclosures inched upward, FERF says
Nearly one-fourth of filings with the SEC in the fourth quarter contained admissions of material weaknesses in internal control over financial reporting.
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Uber discloses its bribery and corruption risk
In its first-ever filing with the SEC, ride-sharing company Uber discussed its bribery and corruption risks, including an ongoing investigation by the Department of Justice into potential violations of the Foreign Corrupt Practices Act.
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SEC charges former SeaWorld executive with insider trading
The SEC has charged the former general counsel of amusement park company SeaWorld Entertainment for his role in an insider-trading scheme, and it’s not the first time that a SeaWorld executive has been in trouble for misleading investors.
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ArticleCommissioners speak to SEC’s past, and future
Top officials at the SEC shared their agendas and future priorities at the recent SEC Speaks conference. Chairman Jay Clayton gave “a look at the SEC through the eyes of management,” and Commissioner Elad Roisman spoke of “encouraging smaller entrants to capital markets.”
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ArticleRoadrunner executives charged with accounting fraud
The SEC and the Department of Justice brought civil and criminal charges against three former executives of transportation company Roadrunner Transportation Systems for their alleged role in a complex securities and accounting fraud scheme that resulted in a loss of more than $245 million in shareholder value.
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Allison H. Lee, former counsel to Kara Stein, nominated to SEC
President Trump will nominate Allison Herren Lee, of Colorado, to serve at the SEC. Lee, a Democrat, would fill the seat vacated by Kara Stein, restoring the five-member Commission to full strength.
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CorpFin addresses filings with 'competitively harmful' information
The Securities and Exchange Commission recently adopted new rules that permit registrants to file redacted material contracts without applying for confidential treatment, provided the redacted information is not material and would be competitively harmful if publicly disclosed.
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ArticleSEC: Amazon can’t exclude biometrics shareholder resolutions
The SEC has decided to allow a shareholder proposal demanding more information on Amazon’s use and sale of facial-recognition technology to proceed to the annual meeting’s proxy materials.
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ArticleSEC, U.K. strike post-Brexit cooperation deals
The SEC and the United Kingdom’s Financial Conduct Authority have reaffirmed their commitment to cooperation and information sharing, even after the latter withdraws from the European Union.
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ArticleSEC awards $50M to two whistleblowers
The Securities and Exchange Commission announced awards totaling $50 million to two whistleblowers whose high-quality information assisted the agency in bringing a successful enforcement action.