SEC Charges Former Executives Of San Francisco Bay Area Company With Accounting Violations Date
02/02/2021
The Securities and Exchange Commission today charged Joseph Jackson and Colm Callan, respectively the former CEO and CFO of WageWorks Inc. with making false and misleading statements and omissions, including to the company’s auditors, that resulted in the company’s improper recognition of revenue related to a contract with a large public-sector client. The settlements with both individuals include reimbursement of certain incentive-based compensation from the period during which the misconduct took place.
According to the SEC s order, in March 2016, WageWorks, a provider of Flexible Spending Account services, signed a contract with a large client to process benefits claims for certain public-sector employees. The order finds that on multiple occasions after the contract was signed, the client s employees told WageWorks that it did not intend to pay for certain de
FOR IMMEDIATE RELEASE Washington D.C., Feb. 2, 2021
The Securities and Exchange Commission today charged Joseph Jackson and Colm Callan, respectively the former CEO and CFO of WageWorks Inc. with making false and misleading statements and omissions, including to the company’s auditors, that resulted in the company’s improper recognition of revenue related to a contract with a large public-sector client. The settlements with both individuals include reimbursement of certain incentive-based compensation from the period during which the misconduct took place.
According to the SEC s order, in March 2016, WageWorks, a provider of Flexible Spending Account services, signed a contract with a large client to process benefits claims for certain public-sector employees. The order finds that on multiple occasions after the contract was signed, the client s employees told WageWorks that it did not intend to pay for certain development and transition work associate
Robinhood interpelée par la SEC | Finance et Investissement finance-investissement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finance-investissement.com Daily Mail and Mail on Sunday newspapers.
James Langton
The company behind popular U.S. trading app Robinhood is paying US$65 million to settle allegations that its “commission free” trading actually cost investors millions in poor trade executions.
The U.S. Securities and Exchange Commission (SEC) charged Robinhood Financial LLC with violating securities rules by repeatedly failing to disclose that it receives payments for order flow, and for failing to meet its best execution obligations.
According to the SEC’s order, the firm was able to offer commission-free trading to clients “due in large part to its unusually high payment for order flow rates,” which resulted in orders being executed at inferior prices.
SEC fines Robinhood $65 million for misleading customers financial-planning.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financial-planning.com Daily Mail and Mail on Sunday newspapers.