On February 9, 2016, the SEC instituted settled administrative and cease-and-desist proceedings against Monsanto Company, Sara M. Brunnquell, CPA, Anthony P. Hartke, CPA, and Jonathan W. Nienas. According to the SEC: "Monsanto is an agricultural seed and chemical company that manufactures and sells glyphosate, a herbicide, under the trade name 'Roundup.' During fiscal years 2009, 2010, and 2011, Monsanto improperly accounted for millions of dollars of rebates offered to Roundup distributors and retailers in the U.S. and Canada to incent them to purchase Roundup. Monsanto also improperly accounted for rebate payments to Roundup customers in Canada, France, and Germany as selling, general, and administrative expenses ('SG&A') rather than rebates, which boosted Roundup gross profit in those countries. Monsanto did not have sufficient internal accounting controls to identify and properly account for rebate payments promised to customers. As a result, Monsanto materially misstated its consolidated earnings, and its revenues and earnings for its Roundup business lines, in its periodic reports filed with the Commission for fiscal years 2009, 2010, and 2011. As a result of the improper accounting, Monsanto met consensus earnings-per-share analyst estimates for fiscal year 2009."

On February 9, 2015, the SEC issued a press release in which the SEC "announced that St. Louis-based agribusiness Monsanto Company agreed to pay an $80 million penalty and retain an independent compliance consultant to settle charges that it violated accounting rules and misstated company earnings as it pertained to its flagship product Roundup. Three accounting and sales executives also agreed to pay penalties to settle charges against them."