The Magazine of Corporate Responsibility

Tag Archive for ‘Securites and Exchange Commission’

Survey: Executives Expect More Financial Statement Fraud

A survey of 2,100 business professionals found that more than half (56 percent) think more financial statement fraud will be uncovered this year and in 2011, as compared to the last three years. Financial services was expected by most to be the industry with the greatest percentage increase in financial statement fraud alleged by the SEC during 2010.

State Street Corp. to Pay $300 Million in Subprime Mortgage Case

State Street Corporation agreed to pay more than $300 million to settle a lawsuit brought by the Securities and Exchange Commission which charged the company with misleading its investors about their exposure to subprime investments while selectively disclosing more complete information to specific investors.