- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2024-02-07T12:51:00
A China-based technology company won’t pay a fine in settling with the Securities and Exchange Commission (SEC) over an alleged accounting fraud scheme perpetrated by two of its former senior managers.
Cloopen Group Holding, a provider of cloud communications products and services, dodged a potential penalty from the SEC for violations that included running afoul of reporting, recordkeeping, and internal control provisions of the federal securities laws, the agency announced Tuesday.
In October, Cloopen announced it received its final delisting determination from the New York Stock Exchange (NYSE) after failing to timely file certain of its annual reports for years impacted by the alleged fraud scheme.
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Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
Massachusetts-based technology company Circor International settled charges with the Securities and Exchange Commission regarding deficient internal accounting controls without paying a fine.
Evoqua Water Technologies agreed to pay $8.5 million as part of a nonprosecution agreement with the Department of Justice to settle admitted criminal charges related to fraudulent revenue recognition.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
