The Securities and Exchange Commission and Commodity Futures Trading Commission (CFTC) have fined a group of Wall Street banks more than $1.8 billion in combined penalties for recordkeeping failures related to the unapproved use of electronic communications, the regulators announced. In the SEC case, charges were brought against 15 broker-dealers Read More
The Boeing Co. has consented to a cease-and-desist order, and agreed to pay a $200 million penalty, to resolve charges brought by the U.S. Securities and Exchange Commission that the aerospace company made materially misleading public statements in the wake of two fatal crashes of its 737 MAX airplanes. Boeing’s Read More
Cloud computing company, VMware, has been charged with violating revenue recognition accounting rules by shifting millions of dollars of revenue into future quarters to meet projections. It will pay an $8 million penalty and has consented to a cease-and-desist order for misleading investors by concealing the company’s slowing financial performance Read More
The Securities and Exchange Commission has charged two insurance executives and their Malta-based registered investment adviser, Standard Advisory Services Limited, for defrauding clients out of more than $75 million through undisclosed transactions that benefited themselves and their companies. In a statement, Osman Nawaz, Chief of the Division of Enforcement’s Complex Read More
It’s been twelve years in the making, but last week the Securities and Exchange Commission finally adopted a rule mandated by the Dodd-Frank Act of 2010 that will require companies to disclose the relationship between executive pay and the financial performance of the company. The SEC first proposed amendments to Read More
Granite Construction will pay $12 million in a settlement with the Securities and Exchange Commission over financial reporting fraud charges after one of its former executives manipulated the company’s financial performance, the SEC announced. According to the SEC’s complaint, filed Aug. 25 in federal district court in the Northern District Read More
Surgalign Holdings (formerly RTI Surgical Holdings), a global medical technology company, must pay a $2 million civil penalty for pulling revenue forward from future quarters in order to mask revenue shortfalls and then failed to disclose this practice to investors, the Securities and Exchange Commission announced Aug. 3. According to Read More
The Securities and Exchange Commission is investigating disclosures made by Elon Musk, CEO of Tesla Motors, concerning his plans to acquire Twitter Inc. and his accumulation of shares in the social media platform, the agency confirmed in a letter sent to Musk last month. The SEC filed the letter on Read More
