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

Defendant Type: Public Company

Document Reference: 2019-6_3-18972

Document Details

Legal Case Name In the Matter of Grupo Simec S.A.B. de C.V.
Document Name SEC Charges Four Public Companies With Longstanding ICFR Failures
Document Date 29-Jan-2019
Document Format Administrative Proceeding
File Number 3-18972
Allegation Type Issuer Reporting and Disclosure
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Compliance Related Independent Consultant
Monetary Penalties:

Civil Penalty

Individual:     $200,000.00 Shared:    

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."