- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-09-07T16:15:00
A Texas-based engineering and construction company agreed to pay $14.5 million to settle allegations by the Securities and Exchange Commission that accounting deficiencies led to restatements on nearly three years of financial statements filed with the SEC.
Fluor Corp. agreed to cease and desist from further violations in reaching settlement, the SEC announced in a press release Wednesday. Five former and current Fluor officers and employees also settled with the agency and will pay penalties ranging from $15,000 to $25,000.
Between 2016 and 2019, Fluor failed to sufficiently maintain internal controls to account for two project bids that used “overly optimistic cost and timing estimates and subsequently experienced cost overruns that worsened over time,” the SEC alleged.
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Los Angeles-based bank holding company Broadway Financial Corp. disclosed in a public filing weaknesses discovered in its internal control over financial reporting because of training shortfalls.
ADM disclosed it will be late in filing its annual report for 2023 as it continues to investigate potential accounting improprieties regarding its nutrition reporting segment.
The Securities and Exchange Commission fined Charter Communications $25 million for violating internal accounting control requirements related to stock buybacks.
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.
