A current Senior Whitehouse Advisor had a father convicted of illegal campaign contributions, tax evasion and witness tampering "Father of Trump son-in-law Jared Kushner spent 14 months in Montgomery federal prison" https://www.al.com/news/2017/06/father_of_trump_son-in-law_jar.html
If every company who violated SEC regulations was Blacklisted the US economy would grind to a halt.
Facebook Inc. In a settled action against Facebook, the Commission alleged that Facebook’s risk factor disclosures presented the misuse of user data as hypothetical when Facebook knew that user data had in fact been misused. Facebook was ordered to pay a $100 million civil penalty.
Mylan N.V. In a settled action against Mylan, the Commission alleged that Mylan failed to timely accrue for and disclose its potential liability arising from a Department of Justice investigation relating to the classification of EpiPen, its largest revenue and profit generating product, as well as making misleading disclosure regarding the risk that government authorities might disagree with that classification. Mylan was ordered to pay a $30 million penalty.
Fiat Chrysler Automobiles N.V. and FCA US LLC. In a settled action, the Commission found that Fiat Chrysler’s U.S. subsidiary, FCA US, inflated monthly sales results by paying automobile dealers to report fake vehicle sales and maintaining a “cookie jar” of actual but unreported sales. In months when FCA US would have fallen short of certain targets, it dipped into the “cookie jar” and reported the old sales as if they had just occurred. FCA US and Fiat Chrysler were ordered to pay a $40 million penalty.
Nissan. The Commission brought settled actions against Nissan, its former CEO, and a former director for false financial disclosures that omitted more than $140 million to be paid to the CEO in retirement. Nissan was ordered to pay a $15 million civil penalty, and the remedies imposed on the former CEO and former director included injunctions, civil penalties, and officer and director bars.
Hertz Global Holdings Inc. and Hertz Corp. In a settled action against Hertz, the Commission found that Hertz’s public filings materially misstated pre-tax income as a result of accounting errors made in a number of business units over multiple reporting periods. Hertz was ordered to pay a $16 million penalty.
PPG Industries, Inc. In a settled action against PPG, the Commission found that PPG failed to properly record various expense accruals and misclassified certain income, which resulted in PPG providing inflated income in its published financial results for two years. Based on PPG’s extensive cooperation with the Commission’s investigation, which included selfreporting and remediation, the Commission did not impose a monetary penalty.
Four Transamerica entities for misconduct involving faulty investment models.73 •
Merrill Lynch, Pierce, Fenner & Smith for misleading customers about how it handled orders purportedly routed to a dark pool.74 •
Panasonic Corp. for accounting fraud violations and violations of the Foreign Corrupt Practices Act (FCPA).75 •
Moody’s Investors Service Inc. for internal control failures and failing to clearly defne and consistently apply credit rating symbols.76 •
Legg Mason Inc. for violating the FCPA in a scheme to bribe Libyan government offcials.77
Two U.S.-based subsidiaries of Deutsche Bank AG for improper handling of “pre-released” American Depositary Receipts (ADRs).81 •
The New York Stock Exchange and two affliated exchanges with regulatory failures in connection with multiple episodes, including several disruptive market events.82
Monsanto Paying $80 Million Penalty for Accounting Violations Washington D.C., Feb. 9, 2016 — The Securities and Exchange Commission today announced that St. Louis-based agribusiness Monsanto Company agreed to pay an $80 million penalty and retain an independent compliance consultant to settle charges that it violated accounting rules and misstated company earnings as it pertained to its flagship product Roundup.
SEC Probes WeWork For Potential IPO Violations The U.S. Securities and Exchange Commission (SEC) is reportedly looking into WeWork to determine whether the embattled company violated financial rules while it was gearing up for its IPO, according to a report by Bloomberg.
PwC settles with SEC for $7.9M over audit violations, improper conduct The Securities and Exchange Commission (SEC) charged accounting firm PricewaterhouseCoopers (PWC) on Monday with improper professional conduct in connection with 19 engagements on behalf of SEC-registered companies, and of violating auditor independence rules.
Wells Fargo to Pay $500 Million for Misleading Investors About the Success of Its Largest Business Unit Washington D.C., Feb. 21, 2020 — The Securities and Exchange Commission today charged California-based Wells Fargo & Co. for misleading investors about the success of its core business strategy at a time when it was opening fake accounts for unknowing customers and selling unnecessary products that went unused. Wells Fargo has agreed to pay $500 million to settle the charges, which will be returned to investors. The $500 million payment is part of a combined $3 billion settlement with the SEC and the Department of Justice.
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