Tag: SEC ↓

Google the mutual fund company

August 27th, 2006 · No Comments

No, Google isn’t managing invest­ments. They’re still devoted to “organizing the world’s infor­mation,” but that doesn’t matter to the SEC. A rule enacted in 1940 could cause increased regulatory headaches for the company. Companies whose securities make up more than 40 percent of their assets can fall under restric­tions that govern the mutual fund industry. […]

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Category: Business
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SEC">First options backdating investigation initiated by SEC

July 21st, 2006 · No Comments

Brocade Commu­ni­ca­tions Systems has become the first company to be formally inves­ti­gated by the SEC regarding the recent options backdating issue. According to the SEC’s complaint document, which names three former execu­tives of the company as plain­tiffs, from 2000 through 2004 the company inflated net income by under­stating their options-related expense through fraud­ulent schemes to […]

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Category: Accounting
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SEC looking into auditors in options backdating investigation">SEC looking into auditors in options backdating investigation

June 8th, 2006 · 2 Comments

The SEC has announced it’s going to be including companies’ external auditors in their inves­ti­gation into options timing abuses commonly known as backdating. Author­ities were said to be looking at what auditors knew about company manip­u­lation of options’ grant dates and exercise prices to boost their value to execu­tives who got them. About 30 companies […]

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Category: Auditing
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