Defendant Name:
Ocwen Financial Corp.
Defendant Type:
Public Company
SIC Code:
6162
CUSIP:
67574630
Document Reference:
34-76938
Document Details
Legal Case Name
In the Matter of Ocwen Financial Corp.
Document Name
Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
20-Jan-2016
Document Format
Administrative Proceeding
AAER
3733
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On January 20, 2016 the SEC instituted settled administrative proceedings against Ocwen Financial Corp. for control failures that allowed its Executive Chairman to approve transactions between Ocwen and HLSS, a company on whose board the Executive Chairman also served. Additionally, the SEC charged that Ocwen materially misstated its net income for three quarters in 2013 and the first quarter of 2014.
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
$2,000,000.00
Shared:
