- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-12-17T20:57:00
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said Tuesday.
The SEC acts as a watchdog for investors, and requires that companies provide complete information about compensation packages so investors can accurately evaluate the finances of a company. It is common for executives to receive hefty bonuses and perks that can dramatically increase their compensation.
The SEC requires companies to disclose the value of bonuses and certain personal benefits given to named executives that total more than $10,000 in a year.
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Gurbir Grewal, director of the Enforcement Division at the Securities and Exchange Commission, spelled out plainly his view on the best path to earning cooperation credit during settlement negotiations with the agency.
The Consumer Financial Protection Bureau levied a $15 million fine against nonbank online lender Enova International for “widespread illegal conduct” that violated a previous agency order.
Electric vehicle manufacturer Canoo agreed to pay $1.5 million as part of a settlement with the Securities and Exchange Commission for alleged material misrepresentations regarding revenue and failing to properly disclose executive compensation.
A Minnesota transportation company agreed to pay nearly $258,000 to settle allegations that a subsidiaries violated sanctions against Cuba and Iran more than 80 times, the U.S. Treasury Department’s Office of Foreign Assets Control said.
McKinsey & Co. will pay $650 million in penalties to the U.S. Department of Justice (DOJ) to settle charges that it advised Purdue Pharma on how to “turbocharge” the sale of Oxycontin in the middle of the U.S. opioid crisis.
New York-based SeaCrest Wealth Management will pay a $375,000 fine for failing to properly prevent a cherry-picking scheme perpetrated by one of its investment advisers.
