Defendant Name:
Exelon Corporation
Defendant Type:
Public Company
SIC Code:
4911
CUSIP:
30161N10
Initial Case Details
Legal Case Name
In the Matter of Exelon Corporation and Commonwealth Edison Company
First Document Date
28-Sep-2023
Initial Filing Format
Administrative Action
File Number
3-21761
Allegation Type
Issuer Reporting and Disclosure
AAER
4467
Resolutions
First Resolution Date
28-Sep-2023
Headline Total Penalty and Disgorgement
$46,200,000
Related Documents:
33-11248
28-Sep-2023
Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 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 28, 2023, the SEC instituted settled cease-and-desist proceedings against Exelon Corporation and Commonwealth Edison Company, stating: "These proceedings arise out of violations of the antifraud, books and records, and internal
accounting control provisions of the Securities Act and the Exchange Act by Respondents as a
result of a multi-year scheme by ComEd to corruptly influence and reward Michael Madigan
("Madigan"), the then-Speaker of the Illinois House of Representatives, for his assistance with
respect to legislation affecting ComEd's business. The scheme occurred from around 2011
through 2019 and involved ComEd arranging for various Madigan associates to obtain jobs,
vendor subcontracts, and monetary payments associated with those jobs and vendor subcontracts,
for the benefit of Madigan and Madigan's associates, with the intent to influence and reward
Madigan."
2023-207
28-Sep-2023
Press Release--Administrative Proceeding
SEC Charges Exelon, its Subsidiary Commonwealth Edison, and Subsidiary's Former CEO Anne Pramaggiore with Fraud in Connection with Political Corruption Scheme
On September 28, 2023, the SEC stated that: "[It] charged Exelon
Corporation, electric utility company Commonwealth Edison Company (ComEd), which is Exelon’s subsidiary, and
former ComEd CEO Anne Pramaggiore with fraud in connection with a multi-year scheme to corruptly influence
and reward then-Speaker of the Illinois House of Representatives Michael Madigan. Exelon and ComEd agreed to
settle the charges, with Exelon paying a civil penalty of $46.2 million. The charges against Pramaggiore will be
litigated."
34-99039
29-Nov-2023
Administrative Proceeding
Extension Order
The Commission ordered: "the Division’s request for an extension of time until December 4, 2024 to submit a Proposed Plan of Distribution is granted."
34-100888
03-Sep-2024
Administrative Proceeding
Order Appointing Fund Administrator, Setting Administrator's Bond Amount, and Authorizing the Approval and Payment of Fees and Expenses of Administration
The Commission ordered that: "Simpluris is appointed as the Fund Administrator . . . ; Simpluris shall obtain a bond . . . in the amount of $46,200,000.00."
34-100887
03-Sep-2024
Administrative Proceeding
Order Appointing Tax Administrator
The Commission ordered that: "Heffler, Radetich & Saitta, LLP is appointed as the Tax Administrator for the QSF in the above-referenced proceeding."
Other Defendants in Action:
