- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2021-09-03T15:03:00
Kraft Heinz agreed to pay $62 million as part of a settlement with the SEC for improper accounting that led to the restatement of several years of financial reporting.
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The amount of accounting and audit enforcement actions by the Securities and Exchange Commission and Public Company Accounting Oversight Board decreased in 2021, resulting in a sharp decline in monetary settlements, according to Cornerstone Research.
Kraft Heinz will restate nearly three years of financial results after determining employee misconduct in procurement caused a net $208 million misstatement in product costs.
Following a string of accounting and reporting problems, Kraft Heinz Co. disclosed it is under investigation by the SEC and reported a $15.4 billion impairment charge.
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
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.
