SEC fines Kraft Heinz $62M, says procurement misled finance team

The company's controller group was misled into booking immediate savings instead of spacing them out over future years, the Securities and Exchange Commission says.  

By Robert Freedman • Sept. 3, 2021

SPAC IPOs plunged 87% during Q2 amid tougher SEC scrutiny

The SPAC market falters as regulators raise concerns about spotty disclosures and weak investor protections. New litigation has also raised questions. 

By Jim Tyson • Sept. 2, 2021

HeadSpin CEO resisted hiring CFO while inflating ARR, SEC says

Manish Lachwani dictated company financials to its bookkeeper and manipulated invoices and other documents to support fabricated numbers, the Securities and Exchange Commission alleges.  

By Robert Freedman • Sept. 2, 2021

Foreign investors can complicate capital raises

Even companies without obvious ties to national security can get snagged by a little-known regulator.

By Robert Freedman • Sept. 1, 2021

Senate Democrats push for overhaul of Trump global tax framework

Top Democrats on the Senate Finance Committee aim to increase taxes on U.S. companies abroad with legislation that business groups say would undermine U.S. competitiveness.

By Jim Tyson • Aug. 30, 2021

Manufacturing CFO sentenced to 2 years for wire fraud

During six years as CFO of Chemstar Products, Gregg Johnson stole approximately $930,000 in company funds by issuing checks from the company’s bank accounts to cover personal expenses, including credit card and mortgage payments and his children’s college tuition.

By Jane Thier • Aug. 27, 2021

Healthcare company and its finance officers fined for misleading accounting

The company didn’t properly account for legal contingencies, inflating its earnings, the Securities and Exchange Commission said.

By Robert Freedman • Aug. 24, 2021

Most CFOs pushing internal diversity programs: PwC

Financial executives are rethinking their companies’ role in society, with 60% of them planning to advance internal programs to increase diversity, according to a PwC survey.

By Jim Tyson • Aug. 23, 2021

Biden plan would increase taxes on less than 3% of small businesses: Treasury

Most small businesses would not face higher taxes under Biden’s spending proposal, the White House said, citing Treasury analysis in response to Republican criticism.

By Jim Tyson • Aug. 20, 2021

Group illegally traded on Netflix subscriber growth, SEC charges

An insider ring is said to have made stock bets on confidential KPI data before it was released in quarterly reports. 

By Robert Freedman • Aug. 19, 2021

SEC challenged in court over Nasdaq rule requiring board diversity

Affirmative action opponents in a court filing call the Nasdaq board diversity mandate “contrary to law, arbitrary and unconstitutional.”

By Jim Tyson • Aug. 19, 2021

Exec hit with insider trading after buying rival stock

A biopharma executive, after learning of plans for his company's acquisition by an industry giant, bought stock in a rival, which he suspected would get a valuation bump from the news. 

By Robert Freedman • Aug. 18, 2021

SEC backs Nasdaq diversity rule over political opposition

The Nasdaq rule seeks to expand race and gender diversity on corporate boards but is met with resistance from Republican senators.

By Jim Tyson • Aug. 9, 2021

Shareholder support surges for action on climate change: EY

Investors back proposals for change in corporate environmental and social policies, an EY study found.

By Jim Tyson • Aug. 6, 2021

Companies oppose one-size-fits-all SEC climate disclosure rule: survey

The SEC should scale its coming rules for climate risk disclosure based on a company’s size, according to companies surveyed by the U.S. Chamber of Commerce.

By Jim Tyson • Aug. 5, 2021

FTC unable to keep up with 'surge' in merger filings

The Federal Trade Commission said it “has been hit by a tidal wave of merger filings” and can’t complete reviews within the statutory period.

By Jim Tyson • Aug. 4, 2021

Former trucking giant CFO convicted of fraud

Peter Armbruster manipulated Roadrunner’s books to make company performance look better than it was. 

By Robert Freedman • Aug. 3, 2021

Sustainable bond issuance will surge this year to record exceeding $850B

The volume of sustainable bonds issued will grow 59%, fueled by investor enthusiasm and increased regulatory clarity, Moody’s Investor Service said.

By Jim Tyson • Aug. 2, 2021

Almost 90% of SPACs have had to restate financials

Concerns by the Securities and Exchange Commission over the accounting of warrants spurred a compliance rush, both by operating companies and SPAC sponsors.

By Robert Freedman • Aug. 2, 2021

CFOs called key to setting comparables in SPAC warrant valuations

The goal is to find comparables that accurately reflect the lowest possible volatility level of the target company’s warranty valuation.

By Robert Freedman • July 30, 2021

SEC may require climate risk disclosures in expanded 10-Ks: Gensler

SEC Chair Gary Gensler says a company, when filing mandatory climate risk disclosures, may need to measure carbon emissions across its “value chain.”

By Jim Tyson • July 28, 2021

Global regulators unite to intensify scrutiny of SPACs

A group of securities market regulators from several countries launched a joint network to monitor SPAC deal-making.

By Jim Tyson • July 27, 2021

Loan performance could worsen under new lease accounting standards

For executives whose pay is tied in part to company performance, debt troubles from the reporting changes could impact compensation.

By Ed McCarthy • July 26, 2021

Tax complexity rising for global companies, survey finds

Global companies face increasingly complex taxation in dozens of countries, especially in calculating transfer pricing and when challenging tax assessments, according to a survey.

By Jim Tyson • July 26, 2021

Retailer, former CEO charged with accounting failures

The SEC charged Tandy Leather Factory and its former CEO with knowingly maintaining a flawed inventory system that led to errors in its financial statements.

By Jim Tyson • July 22, 2021