Posted by Ava on 11:23 AM
Reuters: Regulatory News | Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com | |
China-based Keyuan settles U.S. SEC accounting charges for $1 mln Feb 28th 2013, 18:46 WASHINGTON | Thu Feb 28, 2013 1:46pm EST WASHINGTON Feb 28 (Reuters) - Keyuan Petrochemicals Inc , a China-based petrochemical company, agreed to pay $1 million to settle accounting violations with the U.S. Securities and Exchange Commission, the agency said on Thursday. Regulators accused the company of failing to disclose to investors related-party transactions involving its chief executive and others. The SEC also accused the company of maintaining an off-balance-sheet account to pay bonuses to senior officers and fund other expenses. The company's former finance chief, Aichun Li, agreed to pay a related $25,000 penalty. Neither Keyuan nor Li admitted or denied the charges, the SEC said. | |
|
0 comments:
Post a Comment