Express Bankrupt Retailer Avoids Fine in SEC CEO Perks Case
Recently, the Securities and Exchange Commission (SEC) Enforcement Division director, Gurbir Grewal, shared insights into what he deems the “Five Principles of Effective Cooperation” in settlement talks with the agency. The emphasis was on the best ways to earn cooperation credit during negotiations.
On another note, the Consumer Financial Protection Bureau (CFPB) issued a hefty $15 million fine to Enova International, a nonbank online lender, due to “widespread illegal conduct” in violation of a previous agency order. The CFPB also mandated that executive compensation at Enova be tied to compliance efforts.
In another development, electric vehicle maker Canoo has agreed to a $1.5 million settlement with the SEC for allegedly making material misrepresentations about revenue and failing to adequately disclose executive pay.
These recent financial news updates shine a light on the importance of transparency, compliance, and ethical conduct in the financial industry. Stay informed and stay tuned for more updates on finance and securities news.
