The U.S. Securities and Exchange Commission charges Neil Cole, former CEO of Iconix Brand Group, with accounting fraud.
German vehicle company BMW is fined $18 million by the U.S. Securities and Exchange Commission to resolve allegations that it inflated sales figures between 2015 and 2019. The fine amounts to less than 0.3% of the company's yearly income.
The U.S. Securities and Exchange Commission approves new rules that will allow companies that wish to raise capital, and be listed on the New York Stock Exchange, to use direct listings instead of IPOs.
The government approves a proposed deal with the U.S. Securities and Exchange Commission (SEC) to restructure around $65 billion in foreign government bonds, following President Alberto Fernández's successful negotiations with creditors and the International Monetary Fund the previous week after the country defaulted in May. The government plans to submit the proposal to the SEC on August 17.
Under the terms of a settlement with the U.S. Securities and Exchange Commission, Elon Musk and Tesla, Inc. agree to pay $20 million each to financial regulators, and Musk is expected to resign as chairman, but will remain as chief executive.
Proceedings begin in the trial of Maurice "Hank" Greenberg, former chairman of the giant insurance company AIG, on charges of accounting fraud. The 2005 indictment accuses Greenberg and AIG's former CFO of setting up bogus reinsurance transactions to conceal the insurer's financial difficulties in 2000 and 2001.
"The Wall Street Journal" reports that the FBI and SEC have launched an insider trading investigation involving billionaire investor Carl Icahn, Las Vegas gambler and investor Billy Walters, and golf superstar Phil Mickelson. No wrongdoing has yet been alleged.
BP announces it will plead guilty to charges of manslaughter and obstruction of Congress, and will pay a total of US$4.5 billion to the US Department of Justice and Securities and Exchange Commission.