Electrical automobile maker Nikola has agreed to pay back $a hundred twenty five million to settle costs that it misled investors about important features of its organization, including its technological innovation and a partnership with Basic Motors. The settlement with the U.S. Securities and Exchange Fee arrived 5 months just […]
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Ex-ProPetro CEO Fined Over Undisclosed Perks
Texas oilfield expert services agency ProPetro and previous CEO Dale Redman have settled charges that they understated his executive perks by failing to disclose ProPetro had reimbursed him for additional than $four hundred,000 in personalized and vacation costs. In accordance to the U.S. Securities and Exchange Fee, ProPetro did not […]
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McKinsey Fined $18M Over Compliance Failures
McKinsey & Co. has agreed to pay out $18 million for failing to build proper boundaries amongst its consultants and an affiliate that can make investments for them. The U.S. Securities and Trade Commission explained McKinsey companions experienced accessibility to substance nonpublic information and facts (MNPI) about issuers of securities […]
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Ad Giant WPP Fined $19M for FCPA Violations
U.K.-based mostly WPP, the world’s biggest advertising and marketing group, has agreed to pay back $19 million to settle prices that it unsuccessful to correctly supervise subsidiaries in overseas countries, ensuing in bribery and other illicit schemes. The U.S. Securities and Exchange Fee said WPP violated the Overseas Corrupt Procedures […]
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Capital One CEO Fined for Antitrust Violations
Cash One Monetary CEO Richard Fairbank has agreed to fork out $637,950 to settle charges that he failed to comply with antitrust procedures when he obtained supplemental shares of the financial institution. The U.S. Federal Trade Fee mentioned Fairbank’s order of 101,148 shares in March 2018 — which brought his […]
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Healthcare Services Group Fined Over Accounting
Healthcare Providers Team has agreed to pay out $six million to settle prices that its CFO failed to record loss contingencies from legal liabilities to inflate its earnings. In accordance to the U.S. Securities and Exchange Fee, the accounting violations resulted in HCSG’s earnings staying misstated for six quarters involving […]
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BitMEX Fined $100M in Latest Crypto Crackdown
Cryptocurrency exchange BitMEX has agreed to pay back $100 million to settle charges that it traded digital assets with out verifying purchaser identities and employing an anti-cash laundering system. The agreement declared on Tuesday addresses a lawsuit that the U.S. Commodity Futures Investing Fee brought towards BitMEX and its founders […]
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S&P Dow Jones Fined $9M Over Index Glitch
S&P Dow Jones Indices has agreed to shell out $9 million to settle fees that it released stale index values during an unprecedented industry spike in February, triggering enormous losses on a futures deal issued by Credit Suisse. In accordance to the U.S. Securities and Exchange Commission, the S&P five […]
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Kroll Fined $2M for Violating Credit-Rating Rules
Kroll Bond Rating Company has agreed to fork out $2 million to settle allegations that its processes for rating by-product securities fell quick of marketplace standards. The U.S. Securities and Exchange Fee tightened its oversight of credit history scores businesses just after the mass defaults of very rated structured finance […]
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Deloitte Fined over Bungled Autonomy Audit, Savaged by Regulator
Incorporate to favorites Watchdog desires Deloitte to evaluate “whether the firm’s current processes would lead to a unique outcome” Deloitte has been fined £15 million by regulators and blasted for misconduct for its bungled audit of Mike Lynch’s software enterprise Autonomy, prior to its choose-about by HP for $eleven.1 billion […]
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Smithfield Fined for Failing to Protect Workers from COVID-19
The U.S. Office of Labor cited meat-processing giant Smithfield Packaged Meats for failing to safeguard personnel from exposure to the coronavirus. At minimum 1,294 Smithfield workers contracted coronavirus, and 4 personnel died from the virus in the spring. The Labor Department’s Occupational Security and Wellbeing Administration (OSHA) claimed the quotation adopted […]
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Super Micro Fined $17M for Improper Accounting
Tremendous Micro has agreed to shell out $seventeen.five million to settle fees that the laptop or computer server maker and its former CFO engaged in incorrect accounting practices to speed up the recognition of profits. In accordance to the U.S. Securities and Exchange Fee, former CFO Howard Hideshima pressured staff […]
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Capital One Fined $80 Million Over 2019 Hack
Cash Just one has agreed to fork out $80 million to settle rates stemming from the 2019 hacking incident that exposed data of extra than 100 million customers, a single of the premier assaults concentrating on money data ever. In a consent purchase, the Office environment of the Comptroller of […]
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Diageo Fined for ‘Overshipping’ to Meet Targets
International liquor enterprise Diageo has agreed to pay out $5 million to settle allegations that it pressured distributors to acquire excess stock to meet up with sales targets in a declining current market. The U.S. Securities and Exchange Commision alleged workers at Diageo North The united states (DNA), the company’s […]