A bank holding company settled SEC charges for (i) failure to maintain accurate records regarding commercial real estate security valuations, (ii) failure to incorporate all available market data into its valuations, (iii) issuing material misstatements relating to its valuations and (iv) related supervisory failures.
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The SEC charged a mining company and two former executives with several Exchange Act and Securities Act violations in relation to allegations that the executives committed fraud by significantly inflating the value of certain African coal assets.
The SEC reached a $2.5 million settlement agreement with an investment bank charged with causing an issuer to publish a proxy statement that contained materially false and misleading disclosures about a valuation of the issuer.