The Securities and Exchange Commission announced charges against Austin, Texas-based software company SolarWinds and its chief information security officer, Timothy G. Brown, for fraud and internal control failures relating to allegedly known cybersecurity risks and vulnerabilities. The complaint alleges that, from at least its October 2018 initial public offering through Read More
The Securities and Exchange Commission has released its 2024 examination priorities to alert companies of the areas that the Examination Division plans to focus on in the upcoming year. This year’s examinations will prioritize areas that pose emerging risks to investors or the markets in addition to core and perennial Read More
The Securities and Exchange Commission has adopted a new rule which will require individuals and entities to report information about securities loans to a registered national securities association (RNSA) and require RNSAs to make publicly available information that they receive regarding those lending transactions. The rule is intended to increase Read More
The Securities and Exchange Commission has announced charges against five broker-dealers, three dually registered broker-dealers and investment advisers, and two investment advisers for widespread failures to maintain and preserve electronic communications and for off-channel communications. The firms admitted the facts set forth in their respective SEC orders and acknowledged that Read More
The Securities and Exchange Commission has filed charges against Clear Channel Outdoor Holdings Inc. for violations of the Foreign Corrupt Practices Act (FCPA). Clear Channel Outdoor agreed to pay more than $26 million to resolve the charges that it bribed Chinese government officials to obtain outdoor advertising contracts. The SEC’s Read More
The Securities and Exchange Commission has settled charges against CBRE Inc., a Dallas-based commercial real estate firm, for using an employee release that violated the SEC’s whistleblower protection rule. CBRE agreed to pay a civil penalty of $375,000 as part of the settlement. According to the SEC’s order, between 2011 Read More
View, a California-based maker of “smart” windows for office buildings, has settled charges with the Securities and Exchange Commission for failing to disclose $28 million in projected warranty-related liabilities to address a particular defect in its windows, the SEC announced. The regulatory agency said it decided not to impose any Read More
The Securities and Exchange Commission has issued its largest-ever award, a staggering $279 million, to a whistleblower whose information and assistance led to the successful enforcement of SEC and related actions, the regulatory agency said Friday in a statement. This is the highest award in the SEC’s whistleblower program’s history, Read More
Shipping and logistics company Roadrunner has settled charges brought by the Securities and Exchange Commission resulting from its engagement in a multi-year accounting fraud scheme. According to the SEC’s Feb. 14 cease-and-desist order, from at least July 2013 through January 2017, Roadrunner manipulated its financial reports to hit prior earnings guidance Read More
Manufacturing company Gentex agreed to a cease-and-desist order and to pay a $4 million civil penalty in a settlement with the Securities and Exchange Commission resulting from deficiencies in Gentex’s accounting for its executive and employee bonus compensation programs, the SEC announced. Charges were also brought against Gentex Chief Financial Read More
