Ex-Tyco Exec To Pay $2.6M To Settle With SEC

Law360, New York (May 1, 2007, 12:00 AM EDT) -- Former Tyco International Ltd. executive Edward Federman will pay over $2.65 million to settle charges of fraudulent accounting practices brought by the U.S. Securities and Exchange Commission, the SEC said Monday.

In addition to the payout, which is a combination of disgorgement, prejudgment interest and a civil penalty, the proposed settlement will also permanently enjoin Federman from violating securities laws and will bar him from serving as an officer or director of a public company for five years.

Federman, who resigned from his position as executive...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.