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Six "insiders" of public companies settled charges with the SEC for failing to file reports on their securities holdings and transactions in a timely manner. Five public companies were also charged for contributing to the violations.

The SEC announced charges against 28 officers, directors and major shareholders for violating federal securities laws requiring them to promptly report information about their holdings and transactions in company stock. Additionally, six publicly traded companies were charged with contributing to filing failures. Nearly all of the 34 individuals and firms charged agreed to settle and pay financial penalties totaling $2.6 million. The charges, according to the SEC, stem from an enforcement initiative focusing on two types of ownership reports: those relating to Section 13(d) of the Securities