- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-07-05T18:46:00
Future FinTech Group (FTFT) agreed to pay $1.65 million to settle charges levied by the Securities and Exchange Commission (SEC) for filing materially inaccurate annual reports and failing to maintain adequate books, records, and internal control over financial reporting (ICFR).
FTFT, formerly doing business as China-based SkyPeople Fruit Juice, agreed to a cease-and-desist order and to retain an independent compliance consultant to test, assess, and review its internal accounting controls and ICFR, the SEC said in an administrative proceeding Monday.
From fiscal years 2016-18, FTFT logged significant impairment losses on its assets. The SEC’s investigation found the company’s assets should have been impaired in larger amounts earlier.
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Engineering and construction company Fluor Corp. 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.
Plug Power was fined $1.25 million as part of a settlement with the Securities and Exchange Commission over alleged accounting failures that the company agreed to fully remediate within one year or face an additional penalty.
The Lovesac Company disclosed it expects to restate certain of its 2023 financial statements after an internal investigation uncovered accounting errors related to its recording of last mile freight expenses.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
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.
