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In August 2009, the SEC filed a suit against Bank of America, alleging that the bank failed to disclose $3.6 billion in bonuses that Merrill Lynch paid its employees. [5] In January 2010, the SEC filed another suit against the bank, alleging it failed to disclose extraordinary fourth-quarter 2008 losses at Merrill Lynch prior to a December 5 ...
SEC Rule 10b-5, codified at 17 CFR 240.10b-5, is one of the most important rules targeting securities fraud in the United States. It was promulgated by the U.S. Securities and Exchange Commission (SEC), pursuant to its authority granted under § 10(b) of the Securities Exchange Act of 1934 . [ 1 ]
While the SEC had in place a bounty program for more than 20 years to reward whistleblowers for insider trading tips and complaints, an Office of the Inspector General's 2013 report found that the SEC's old program received very few applications from individuals seeking a bounty, and there were very few payments made under the program, possibly because the program was not widely recognized.
The letter also asked the SEC to require OpenAI to produce every contract that contained a non-disclosure agreement, including employment agreements, severance agreements and investor agreements ...
The Sarbanes–Oxley Act of 2002 is a United States federal law that mandates certain practices in financial record keeping and reporting for corporations.The act, Pub. L. 107–204 (text), 116 Stat. 745, enacted July 30, 2002, also known as the "Public Company Accounting Reform and Investor Protection Act" (in the Senate) and "Corporate and Auditing Accountability, Responsibility, and ...
The U.S. Securities and Exchange Commission has given Elon Musk until Monday to respond to an offer to resolve a probe into the billionaire's $44-billion takeover of Twitter in 2022, a source ...
The notice informs the people or the firm in question that the SEC has concluded that they should be charged with violation of the securities laws. [1] The notice indicates that the SEC staff has determined it may bring a civil action against a person or firm, and provides the person or firm with the opportunity to provide information as to why ...
It was relisted in 2020 after settling with the SEC and paying a $17.5 million fine. At the time, the company parted ways with its CFO, Howard Hideshima, who was alleged by regulators to have ...