{"id":7422,"date":"2024-06-05T14:46:54","date_gmt":"2024-06-05T18:46:54","guid":{"rendered":"https:\/\/seci.wpenginepowered.com\/?p=7422"},"modified":"2024-06-05T14:46:58","modified_gmt":"2024-06-05T18:46:58","slug":"sec-enforcement-for-deficient-disclosures-about-related-person-transactions","status":"publish","type":"post","link":"https:\/\/seciblog.pli.edu\/index.php\/sec-enforcement-for-deficient-disclosures-about-related-person-transactions\/","title":{"rendered":"SEC Enforcement for Deficient Disclosures About Related Person Transactions"},"content":{"rendered":"<p>On March 7, 2024, the SEC <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2024-33\">announced<\/a> settled charges against Skechers U.S.A., Inc. for failure to disclose related person transactions in its proxy statements and Part III of Form 10-K.\u00a0 The <a href=\"https:\/\/www.sec.gov\/files\/litigation\/admin\/2024\/34-99693.pdf\">Enforcement Order<\/a> details several instances where family members and persons sharing the same household as directors and executive officers received compensation from Skechers in excess of the $120,000 disclosure threshold specified in Regulation S-K Item 404.\u00a0 In addition, two executives had loans from the company related to unreimbursed personal expenses paid by the company in excess of $120,000.<\/p>\n<p>This case has a proxy focus similar to the many cases the SEC has brought relating to <a href=\"https:\/\/seciblog.pli.edu\/the-enforcement-divisions-perks-focus-continues\/\">inadequate perks disclosures<\/a>.<\/p>\n<p>The company entered into a cease and desist order and paid a fine of $1.25 million.<\/p>\n<p>As always, your thoughts and comments are welcome.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On March 7, 2024, the SEC announced settled charges against Skechers U.S.A., Inc. for failure to disclose related person transactions in its proxy statements and Part III of Form 10-K.\u00a0 The Enforcement Order details several instances where family members and persons sharing the same household as directors and executive officers received compensation from Skechers in &hellip; <a href=\"https:\/\/seciblog.pli.edu\/index.php\/sec-enforcement-for-deficient-disclosures-about-related-person-transactions\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">SEC Enforcement for Deficient Disclosures About Related Person Transactions<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[261,143,242],"tags":[],"coauthors":[154],"class_list":["post-7422","post","type-post","status-publish","format-standard","hentry","category-enforcement","category-hot-topic","category-reporting"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/7422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/comments?post=7422"}],"version-history":[{"count":0,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/7422\/revisions"}],"wp:attachment":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/media?parent=7422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/categories?post=7422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/tags?post=7422"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/coauthors?post=7422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}