In connection with a partial settlement of alleged fraudulent activities, the SEC charged three directors of a company associated with the fraud, but who did not participate in the fraud,with failing to make Section 16 filings. Two of the directors, one of which is a former Governor of the State of New York, settled the SEC’s enforcement action without admitting or denying the charges. An administrative action was commenced against the third director.
Developments in Securities Regulation, Corporate Governance, Capital Markets, M&A and Other Topics of Interest. MORE