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
BNY Mellon Investment Adviser agreed to a cease-and-desist order, a censure, and a $1.5 million penalty to settle charges with the Securities and Exchange Commission for misstatements and omissions about environmental, social, and governance (ESG) considerations in making investment decisions for certain mutual funds it managed. According to the SEC’s Read More
The Securities and Exchange Commission is revisiting Dodd-Frank Act era rules that require companies to disclose more information about how their executive pay lines up with the company’s financial performance. This week the agency proposed new rules that is said would better reflect Congress’ intent to shed light on corporate Read More
Securities industry regulator FINRA has hit Credit Suisse Securities with a $9 million fine for failing to comply with rules requiring firms to disclose potential conflicts of interest when issuing research reports and for violating the Securities and Exchange Commission’s Customer Protection Rule. As part of the settlement, FINRA also Read More
The Securities and Exchange Commission appears to be making a new effort to pass clawback rules that would require executives to pay back compensation that was obtained by hitting incentive goals that were later found to be false or inaccurate. The rule was included in the Dodd-Frank Wall Street Reform Read More
At Tuesday’s “SEC Speaks” conference from PLI, SEC Chair Gary Gensler and Commissioners Allison Herren Lee, Elad Roisman, and Caroline Crenshaw all delivered remarks on different topics. Gensler discussed the use of predictive digital analytics in finance, Lee examined the explosive growth of the private markets and proposed to address Read More
London-based WPP plc, the world’s largest advertising group, has agreed to settle bribery charges with the Securities and Exchange Commission. The company will pay more than $19 million to resolve allegations that it violated the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act Read More
The Securities and Exchange Commission announced awards of approximately $110 million and $4 million to two whistleblowers whose information and assistance led to successful SEC and related actions. With these awards, the SEC’s whistleblower program has now paid more than $1 billion in awards to 207 whistleblowers, including over $500 Read More
In a rare move, the Securities and Exchange Commission issued whistleblower awards to three individuals who held compliance roles at an unnamed company. In a statement, the SEC said that it had awarded more than $1 million to three individuals whose information and assistance led to a successful enforcement action. Read More
Educational publishing and software company Pearson has agreed to pay $1 million to settle charges that it misled investors on the details of a 2018 data breach, the Securities and Exchange Commission announced yesterday. According to the SEC, London-based Pearson made misleading statements and omissions to investors about a cyber-attack Read More
