NEW YORK (Reuters) -Alphabet, Goldman Sachs and a group of other firms agreed to pay a combined $3.8 million in penalties to settle U.S. Securities and Exchange Commission charges over late filings, the regulator said on Wednesday.
The SEC levied fines against the owner of Google, as well as Wall Street firms including Goldman Sachs, Bank of Nova Scotia and a unit of Bain Capital, as part of a sweep targeting tardy filings by companies and executives disclosing information to investors such as beneficial ownership changes and insiders’ stock sales.
None of the firms or individuals admitted to or denied the SEC findings, but they agreed to pay civil penalties and cease and desist from further violations.
Alphabet agreed to pay $750,000. Goldman will pay $300,000, Bank of Nova Scotia will pay $375,000 and Bain Capital Credit Member agreed to pay $130,000.
The other firms charged in connection with beneficial ownership of publicly traded companies and their respective penalties were:
* Sunbeam Management, LLC – $40,000; * TALANTA Investment Group, LLC – $45,000; * Grays Peak Ventures LLC – $65,000; * Stilwell Value LLC – $75,000; * BSC, LP – $75,000; * Bain Capital Credit Member, LLC – $130,000; * FIG LLC, which conducts business under the name FortressInvestment Group – $200,000; * Adage Capital Management, L.P. – $200,000; * Essex Woodlands Management, Inc. – $225,000; * The Goldman Sachs Group, Inc. – $300,000; * Oaktree Capital Management, L.P. – $375,000; * The Bank of Nova Scotia – $375,000 * Alphabet Inc. – $750,000 * Legacy Housing Corporation – $200,000; and * Celsius Holdings, Inc. – $200,000
Ten individuals also agreed to penalties for late filings, the SEC said.
(Reporting by Chris Prentice; Editing by Aurora Ellis)
