Defendant Name: Portugal Telecom SGPS S.A.

Defendant Type: Public Company
SIC Code: 4812
CUSIP: 73727310

Document Reference: 34-78824

Document Details

Legal Case Name In the Matter of Portugal Telecom, SGPS, S.A., now known as Pharol SGPS, S.A.
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 13-Sep-2016
Document Format Administrative Proceeding
File Number 3-17534
AAER 3799
Allegation Type Issuer Reporting and Disclosure
Document Summary On September 13, 2016, the SEC issued a settled administrative proceedings against Portugal Telecom SGPS S.A. According to the SEC: "This financial reporting matter arises out of Portugal Telecom, SGPS, S.A.’s (“Portugal Telecom”) misleading and inaccurate disclosures regarding its investments in debt instruments issued by entities of Portuguese conglomerate, Grupo Espirito Santo (“GES”)."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $1,250,000.00 Shared:    

Related Documents:

2016-183 13-Sep-2016 Press Release--Administrative Proceeding
SEC: Company Failed to Disclose Credit Risk in Investments
On September 13, 2016, the SEC announced that: "a Portuguese-based telecommunications company has agreed to pay a $1.25 million penalty for its failure to properly disclose the nature and extent of credit risk involved in its investments in debt instruments issued by companies of Portuguese conglomerate Grupo Espirito Santo.".