Defendant Name: Grupo Simec S.A.B. de C.V. 

Defendant Type: Public Company
SIC Code: 3321
CUSIP: 40049110

Initial Case Details

Legal Case Name In the Matter of Grupo Simec S.A.B. de C.V.
First Document Date 29-Jan-2019
Initial Filing Format Administrative Action
File Number 3-18972
Allegation Type Issuer Reporting and Disclosure
AAER 4017

Violations Alleged

Exchange Act
• Sec 13(b)(2)(B)
Other
• Rules 13a-15(a), 13a-15(c) Exchange Act

Resolutions

First Resolution Date 29-Jan-2019

Related Documents:

34-84996 29-Jan-2019 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On January 29, 2019, the SEC issued an order against Grupo Simec S.A.B. de C.V. stating: "This matter involves violations of the federal securities laws in connection with the Respondent's Internal Control over Financial Reporting ("ICFR"). Respondent did not remediate material weaknesses in ICFR for ten consecutive annual reporting periods from fiscal year ended 2008 through fiscal year ended 2017, and it failed to complete in certain periods the required management evaluation of internal controls."
2019-6_3-18972 29-Jan-2019 Press Release--Administrative Proceeding
SEC Charges Four Public Companies With Longstanding ICFR Failures
On January 29, 2019, the SEC stated that: "[It] settled charges against four public companies for failing to maintain internal control over financial reporting (ICFR) for seven to 10 consecutive annual reporting periods. Two of the charged companies also failed to complete the required evaluation of the effectiveness of ICFR for two consecutive annual reporting periods."