All Securities and Exchange Commission articles – Page 43
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SEC censures Schulman Lobel for deficient audit engagements
The SEC censured audit firm Schulman Lobel and ordered it to pay a total of $98,510 for deficient audit and review engagements it performed on now-defunct software provider Quadrant 4 System.
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SEC’s Clayton stresses importance of coronavirus disclosures
With the close of the first quarter and earnings releases and investor calls around the corner, senior leadership at the SEC is pushing for full disclosure transparency regarding impact of the coronavirus pandemic.
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Eni, SEC in ‘advanced discussions’ on corruption probe resolution
Italian oil company Eni said in a recent regulatory filing it is in “advanced discussions” regarding a resolution to an SEC probe into allegations of corruption for the award of certain contracts in Algeria.
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SEC charges chief compliance officer in trading scheme
The SEC has filed a complaint against four individuals, including a former chief compliance officer, for conducting a fraudulent unauthorized trading scheme through retail customer accounts at their Commission-registered brokerage firm.
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SEC continues whistleblower award surge with $2M payout
The Securities and Exchange Commission announced the award of $2 million to a whistleblower—its fifth payout in the last 12 days. For the year, the SEC has already matched its 2019 total of eight awards.
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SEC won’t delay Reg BI amid pandemic
The Securities and Exchange Commission has no plans to delay its controversial Regulation Best Interest rule despite the impact the ongoing coronavirus pandemic has had on U.S. markets.
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SEC issues rare compliance-related whistleblower award
The Securities and Exchange Commission announced it would award $450,000 to a whistleblower with compliance-related responsibilities—a rarity in the program’s history.
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So your company’s CEO has coronavirus. Does the world have to know?
As infections stemming from the coronavirus pandemic continue to mount around the world, publicly traded companies face questions about when and where to disclose that their CEO or other key executives have contracted the virus.
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Coronavirus begins disrupting public companies’ financial reporting
Companies are reporting ways in which the coronavirus pandemic is hurting their bottom lines, as well as steps they are taking to reduce spending as disruptions ripple through their supply chains and rattle their customer bases.
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SEC awards $1.6M to whistleblower for case-opening intel
The Securities and Exchange Commission announced an award of more than $1.6 million to a whistleblower whose information formed part of the basis for charges brought in a successful enforcement action.
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SEC filer definition changes aim to promote going public
The SEC’s revisions to definitions of accelerated and large accelerated filers should provide relief to smaller issuers and reduce costs for certain public companies.
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SEC promotes virtual board meetings amid coronavirus crisis
The SEC has shared guidance to assist public companies, investment companies, shareholders, and other market participants affected by the coronavirus pandemic with their upcoming annual shareholder meeting obligations.
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SEC extends filing deadlines for firms impacted by coronavirus
Certain companies have been granted a reprieve by the SEC, which is extending some filing deadlines due to coronavirus interference.
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Herbalife sets aside $40M in FCPA probe
Dietary supplement maker Herbalife said in a regulatory filing it has set aside $40 million in accrued liability concerning an investigation into the company’s compliance with the Foreign Corrupt Practices Act in China.
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Newell Brands facing SEC subpoena over sales, accounting practices
Newell Brands disclosed in a regulatory filing it is facing a Securities and Exchange Commission subpoena over its sales and accounting practices, particularly related to the impairment of goodwill and other intangible assets.
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Compliance lessons from Cardinal Health’s FCPA settlement
Cardinal Health reached an $8.8 million settlement with the SEC for violations of the FCPA concerning the operations of its former Chinese subsidiary. For prudent compliance officers, it’s a tale of how not to do business in China.
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SEC rips Wells Fargo’s ETF compliance efforts in $35M settlement
Already reeling from last week’s $3 billion penalty related to its fake accounts scandal, Wells Fargo took another hit Thursday in the form of a $35 million SEC settlement related to poor supervision of investment recommendation practices.
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SEC settles with RSM over improper conduct
The Securities and Exchange Commission has settled charges with RSM for “improper professional conduct” after the firm assigned unqualified staff to audit a series of private investment funds.
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Under Siege: Actor Steven Seagal dinged by SEC for touting ICO
Steven Seagal agreed to a settlement with the Securities and Exchange Commission for failing to disclose payments he received for promoting an initial coin offering in 2018 conducted by Bitcoiin2Gen.
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SEC subpoenas Mattel in accounting probe
Mattel announced it has received a subpoena from the Securities and Exchange Commission seeking documents related to a previously disclosed investigation that had uncovered accounting errors.