SEC and corporate fines

Posted on December 13th, 2005

The Securities & Exchange Commission is set to issue guidelines on fines for corporate wrongdoer. SEC Chairman Christopher Cox is pushing for standards in levying fines, and would like those guidelines available to the public. The standards won’t speak to the size of fines, but will dictate when a fine is appropriate.

Some more recent penalties include:
WorldCom (MCI) – $750 million for fraudulent financial statements
Time Warner – $300 million for inflating advertising revenue at AOL
Qwest Communications – $250 million for accounting fraud

Full story here.

Related posts:

  1. Breaking records with SEC fines
  2. SEC fines have gone down
  3. KMPG partners agree to SEC penalties
  4. Ameriquest Mortgage offers settlement to consumers
  5. Shareholder questions spending of public company

Trackback from your site.

Leave a comment

Note that comments which are abusive to the author or other commenters will not be published. Also, comments promoting any multi-level marketing companies, pyramid schemes, or business opportunity scams will not be published. Please do not assume that the author agrees with or endorses any comments left by others.