News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2022-09-30T16:44:00
Consumer products company Tupperware Brands Corp. agreed to pay $900,000 to settle charges of failing to maintain sufficient internal accounting controls and keep accurate books and records at its Mexico affiliate, the Securities and Exchange Commission (SEC) announced.
Tupperware acquired Fuller Cosmetics, including its Mexico business, in 2005. Tupperware should have then put in place appropriate accounting policies and procedures but instead maintained the legacy practices of the unit, the SEC alleged.
Fuller Mexico relied on direct-to-customer sales by its independent sales representatives, called “Fullerettes,” according to the SEC’s order filed Thursday. The sales targets for the Fullerettes and sales directors were unrealistic, an internal investigation by Tupperware later found.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2023-03-17T18:42:00Z By Adrianne Appel
Tupperware Brands Corp. disclosed it uncovered material weaknesses in its internal control over financial reporting as part of an announcement its 2022 annual report would be delayed.
2024-11-22T14:39:00Z By Aaron Nicodemus
Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.
2024-11-22T14:17:00Z By Adrianne Appel
Dr. Mehmet Oz, President-elect Donald Trump’s pick to lead the Centers for Medicare and Medicaid Services, has a mandate from Trump to “take on the illness industrial complex” and to cut costs.
2024-11-21T20:19:00Z By Oscar Gonzalez
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.
2024-11-20T18:15:00Z By Aaron Nicodemus
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.
2024-11-19T21:05:00Z
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.
Site powered by Webvision Cloud