NEC Brokers Reach Deal With SEC Over Bookkeeping

Law360, New York (June 17, 2008, 12:00 AM EDT) -- Japan's NEC Corp. has reportedly agreed to a settlement with U.S. regulators over allegations that the Tokyo-based maker of network and computer products kept incomplete records.

The U.S. Securities and Exchange Commission said Tuesday that NEC had agreed to a cease-and-desist order without admitting or denying the agency's findings related to the company's alleged deficiencies in maintaining accurate books and records, Dow Jones reported.

The SEC had alleged that between fiscal years 2000 through 2005, NEC filed annual reports with the agency that misstated revenue, net...
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.