(Bloomberg) -- The U.S. Securities and Exchange
Commission plans to fine Nortel Networks Corp. for accounting
fraud in the first test of a policy that gives the agency's
commissioners more say in corporate penalties, four people with
direct knowledge of the matter said.
SEC attorneys got the commissioners' approval last month to
seek a fine of less than $100 million from Nortel, North
America's largest telephone-equipment maker, according to one of
the people, who declined to be identified because the decision
isn't public. Staff lawyers previously could negotiate
settlements without having to obtain permission in advance.
Read more at Bloomberg Exclusive News
Commission plans to fine Nortel Networks Corp. for accounting
fraud in the first test of a policy that gives the agency's
commissioners more say in corporate penalties, four people with
direct knowledge of the matter said.
SEC attorneys got the commissioners' approval last month to
seek a fine of less than $100 million from Nortel, North
America's largest telephone-equipment maker, according to one of
the people, who declined to be identified because the decision
isn't public. Staff lawyers previously could negotiate
settlements without having to obtain permission in advance.
Read more at Bloomberg Exclusive News
No comments:
Post a Comment