SEC Is Investigating IBM's Cloud Computing Business

Law360, New York (July 31, 2013, 1:10 PM EDT) -- IBM Corp. is currently being probed by U.S. securities regulators, who are examining the technology giant’s sales reporting methods for its cloud computing business, the company said Wednesday.

The U.S. Securities and Exchange Commission told IBM in May that it is conducting an investigation into how the Armonk, N.Y.-based corporation reports revenue from its cloud operations, according to a regulatory filing on IBM's second quarter results.

“IBM is cooperating with the SEC in this matter,” the filing said.

The brief acknowledgement, buried in 83 pages of...
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.