Defendant Name:
Grupo Simec S.A.B. de C.V.
Defendant Type:
Public Company
SIC Code:
3321
CUSIP:
40049110
Document Reference:
34-84996
Document Details
Legal Case Name
In the Matter of Grupo Simec S.A.B. de C.V.
Document Name
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
Document Date
29-Jan-2019
Document Format
Administrative Proceeding
AAER
4017
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Compliance Related Independent Consultant
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$200,000.00
Shared: