- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-07-14T16:55:00
The SEC issued a $7 million fine against startup space company Momentus for misleading investors about the viability of its technology and an additional $1 million fine against the SPAC taking it public for not conducting adequate due diligence.
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Special purpose acquisition company transactions have unique risks and require awareness of what it takes to operate as a public business. Internal controls, governance, technology, and more are essential.
The number of total enforcement actions filed by the Securities and Exchange Commission fell 3 percent in fiscal year 2021, according to the agency’s annual enforcement report.
Electric vehicle manufacturer Lordstown Motors disclosed in a regulatory filing it has received scrutiny from the Justice Department and the Securities and Exchange Commission regarding its SPAC deal and preorders of its flagship truck.
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.
