Major firms agree to pay $3.8 million over US SEC violations
SEC targets late filings.
Alphabet, Goldman Sachs, and several other firms have agreed to pay a combined total of $3.8 million in penalties to settle charges from the US Securities and Exchange Commission (SEC) over late filings. This action is part of a wider initiative aimed at companies and executives who failed to timely disclose important information to investors, such as changes in beneficial ownership and insider stock sales.
As part of the settlement, Alphabet will pay $750,000, while Goldman Sachs will contribute $300,000. Additional fines include $375,000 from Bank of Nova Scotia and $130,000 from Bain Capital Credit Member. Other firms, such as Sunbeam Management, TALANTA Investment Group, and Fortress Investment Group, also faced penalties ranging from $40,000 to $225,000.
None of the firms or individuals involved admitted to or denied the SEC’s findings, but they agreed to pay the civil penalties and refrain from any further violations. Additionally, ten individuals were also penalised for late filings, as stated by the SEC.