Fines for major groups in the US stock market. According to the annual report of the Security and Exchange Commission (SEC), the US stock market policeman, Wall Street companies have been fined more than $ 4 billion in fines and adjustments for the fiscal year ended in late September. And this year, the car manufacturer Fiat-Chrysler, Facebook and the pharmaceutical company Mylan are among the most sanctioned groups.
According to the report, Mark Zuckerberg's group was fined $ 100 million for a misleading presentation of its risk factors, Fiat-Chrysler will have to pay the sum of $ 40 million for figures of misleading sales while Mylan was fined $ 30 million for delaying the reversal of EpiPen, an emergency treatment for severe allergic reactions.
Never seen in 30 years
Among the other large companies convicted: Nissan will have to pay a fine of $ 15 million for false tax returns and Hertz will have to pay a fine of $ 16 million. A total of 862 sanctions or reorganizations for "ill-gotten gains" were issued by the SEC for this fiscal year for $ 4.3 billion.
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A record, according to Urska Velikonja, a professor at Georgetown University, quoted by the Wall Street Journal. According to the latter, the amount of the fines imposed is the highest recorded since "at least 1987". Fiscal year 2019 beats that of 2015 when the SEC imposed nearly $ 4.2 billion in sanctions.
It should be noted that 95 investment counseling firms were also sanctioned. The latter were denounced after an initiative launched in early 2018. They were punished for having levied high fees on the subscription of mutual funds while products of the same nature, but cheaper, were available. They have had to make $ 135 million available to their clients, most of whom are individual investors.