This is a great email alert that came out today from the SEC:Read More
Here's a quick tip on how your 10-K language may need to change to represent your compliance with the new COSO 2013 standards / Sarbanes-Oxley. Remember, this is due by 12/15/2014, it is not optional, and if you directly reference the 1992 guidance like most companies do, you will need to make this edit.
The SEC charged Jenny Copland of South Florida with defrauding investors in a Ponzi Scheme targeting the local Colombian-American community by telling investors that her company Immigration General Services operated through an investment broker that would invest the money she raised in immigration bail bonds and turn a profit.
Since our Vibato® Internal Control Suite® tools are available in Mandarin and our products have been being sold in China for several years, we are always interested in news surrounding SEC audits there. It is unfortunate to see a US-based auditing firm failing their clients and helping to continue the negative press China companies often receive while trying to comply with SEC standards.
The SEC has charged the former CEO of ChinaCast Education Corporation with stealing tens of millions of dollars from investors and the former president with illegally dumping stock after helping to steal company assets. Read more here.
This is a great article from FEI today. This seems to only serve the purpose of letting everyone know how severe the pay inequalities may be at any one organization so it should prove interesting to see if this moves beyond just a proposed ruling phase...
The SEC claims PACCAR’s internal control procedures were ineffective and kept the company from adhering to various accounting rules.
SEC charges City of Victorville, CA officials with Defrauding Municipal Bond Investors
Level Global Investors have agreed to pay more than $21.5 million in fines to the SEC to settle charges that it’s Co-Founder, Anthony Chiasson, engaged in insider trading in the securities of of Dell Inc. and Nvidia Corp. Also charged was former analyst, Spyridon “Sam” Adondakis, five investment professionals, and the hedge fund advisory firm, Diamondback Capital Management.
The Securities and Exchange Commission has charged a California based lawyer, Brian Reiss, with selling fraudulent legal opinion letters through his website. These documents were issued to transfer agents on behalf of holders, to lift restrictions on stocks to be freely traded again.