Defendant Name: BGC Partners, Inc.

Defendant Type: Public Company
SIC Code: 7372
CUSIP: 05541T10

Initial Case Details

Legal Case Name In the Matter of BGC Partners, Inc.
First Document Date 30-Sep-2020
Initial Filing Format Administrative Action
File Number 3-20107
Allegation Type Issuer Reporting and Disclosure
AAER 4181

Violations Alleged

Exchange Act
• Sec 13(a)
• Rule 13a-11
Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)
Other
• Rule 100(b) Regulation G Exchange Act

Resolutions

First Resolution Date 30-Sep-2020
Headline Total Penalty and Disgorgement $1,400,000

Related Documents:

33-10867 30-Sep-2020 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings, Pursuant to 8A of the Securities Act of 1933, and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On September 30, 2020, the SEC instituted settled cease-and-desist proceedings against BGC Partners, Inc. The Commission stated: "These proceedings arise out of BGC’s false and misleading disclosures concerning how it calculated a key non-GAAP financial measure, which BGC reported in its quarterly and annual earnings releases and during earnings calls."
33-10867-s 30-Sep-2020 Administrative Summary
SEC Charges BGC Partners with Making False and Misleading Disclosures Concerning a Key Non-GAAP Financial Measure AAER Number
The SEC "announced settled charges against BGC Partners, Inc. for false and misleading disclosures concerning how it calculated a key non-GAAP financial measure, which it called post-tax distributable earnings or Post-Tax DE."