The Magazine of Corporate Responsibility

Tag Archive for ‘SEC’

SEC Adopts Final Whistleblower Rules

Commission chairman Mary Schapiro said that while the Sarbanes-Oxley Act has helped protect whistleblowers and improve internal reporting systems at public companies, “too many people remain silent in the face of fraud. Today’s rules are intended to break the silence of those who see a wrong.”

Budget Cuts, Lobbying Challenge SEC’s Oversight

When President Obama came into power on the heels of the financial crisis, he pledged to beef up the Securities and Exchange Commission, a chief watchdog of Wall Street. But with a strapped budget and the changing political winds in Congress, that plan may come up short.

GE to Pay $23.4 Million to Settle SEC Oil-for-Food Charges

The Securities and Exchange Commission charged that from 2000 to 2003 two GE subsidiaries — along with two other subsidiaries of public companies that have since been acquired by GE — participated in a $3.6 million kickback scheme with Iraqi government agencies to win contracts to supply medical equipment and water purification equipment.

Dell Inc. to Pay $100 Million to Settle Charges in Intel Case

The SEC charged that Dell and its founder, Michael Dell, and several former executives did not disclose to investors large “exclusivity payments” the company received from Intel Corporation to not use central processing units manufactured by Intel’s main rival, Advanced Micro Devices Inc. At their peak in the first quarter of 2007, those payments constituted 76 percent of Dell’s operating income.

Dell Negotiating to Settle SEC Charges Regarding Intel

Dell Inc. said the company and its Chairman and CEO, Michael Dell, are in negotiations with the Securities and Exchange Commission to settle charges related to past dealings with chip-maker Intel. The company revised its earnings to include a $100 million liability to cover the cost of an anticipated settlement by the company with the SEC.

Daimler Agrees To Pay $185 Million to Settle Bribery Charges

The maker of Mercedes cars and trucks is the latest company dealing with fallout from violations of the U.S. Foreign Corrupt Practices Act. Transnational bribery and corruption are intensifying ethics and compliance concerns for companies doing business on a global basis as prosecutors pursue a record number of cases and penalties for offenses escalate dramatically.

VIDEO:Analyst Who Warned on Madoff Talks to Jon Stewart

Harry Markopolos, the analyst who tried in vain to persuade the Securities and Exchange Commission that Bernie Madoff’s investment company was a Ponzi scheme, is interviewed by Comedy Central’s Jon Stewart.

Investors Introduce Record Number of Climate Change Resolutions

The resolutions, up 40% from last year, have been presented to some of the nation’s largest coal companies, electric power and oil producers, home builders, big box retailers, financial institutions and other businesses thought to be not adequately disclosing and managing potential climate-related business impacts.

Opinion: SEC on ESG?

When do you know that ESG (or factoring environmental, social, and governance issues into investment and corporate decisions) has gone mainstream? One signal would be the agenda of last week’s meeting of the Securities and Exchanhe Commission’s Investor Advisory Committee, which included items such as “ESG Disclosure Work Plan” and “Proxy Voting Transparency.”

Who Detects Corporate Fraud? (Tip: It’s Not Usually the SEC…)

Class action lawsuits and federal agency enforcement proceedings have little to do with uncovering corporate fraud, according to a new academic study.