Defendant Name: Portugal Telecom SGPS S.A.

Defendant Type: Public Company

Document Reference: 2016-183

Document Details

Legal Case Name In the Matter of Portugal Telecom, SGPS, S.A., now known as Pharol SGPS, S.A.
Document Name SEC: Company Failed to Disclose Credit Risk in Investments
Document Date 13-Sep-2016
Document Format Administrative Proceeding
File Number 3-17534
Allegation Type Issuer Reporting and Disclosure
Document Summary 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.".

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order

Related Documents:

34-78824 13-Sep-2016 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 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”)."