{"id":5396,"date":"2012-11-30T00:00:00","date_gmt":"2012-11-30T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2012\/11\/tone_of_sec_probe_can_be_affec"},"modified":"2022-05-02T15:28:58","modified_gmt":"2022-05-02T20:28:58","slug":"tone-of-sec-probe-can-be-affec","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/tone-of-sec-probe-can-be-affec\/","title":{"rendered":"\u201cTone\u201d of SEC Probe Can May Be Affected by Self-Reporting, Says Enforcement Division Official"},"content":{"rendered":"<p>According to Securities and Exchange Commission Stephen Cohen, when an entity self-reports possible wrongdoing, the \u201ctone\u201d of the SEC investigation into the matter may be impacted in a manner that benefits that party. Cohen, who spoke while participating at a Securities Docket&#8217;s Securities Enforcement Forum panel in DC last month (he made it clear that his views are his own), said that this is very important to the SEC when figuring out how much of a penalty to impose.<\/p>\n<p>Cohen noted that although in the past the SEC hasn\u2019t done a stellar job about making public what credits are given to the entities that have self-reported violations, he says the regulator has been doing a better job. For example, in 2010 the Commission announced that it had entered into a non-prosecution deal with Carter\u2019s Inc. (CRI) after the kids\u2019 clothing marketing company did a thorough job of self-reporting the insider trading and financial fraud incidents involving its ex-EVP of Sales Joseph M. Elles. Carter\u2019s also implemented complete remedial action and thoroughly cooperated with the SEC\u2019s probe.<\/p>\n<p>There was also the deferred prosecution of Tenaris S.A. (TN) last year over allegations that the steel pipe products manufacturer bribed Uzbekistan officials during a bidding process over supplying pipeline and made nearly $5 million in profits. Such misconduct is a violation of the Foreign Corrupt Practices Act and Tenaris agreed to pay $5.4 million in disgorgement in addition to prejudgment interest.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/tone-of-sec-probe-can-be-affec\/\"  title=\"Continue Reading \u201cTone\u201d of SEC Probe Can May Be Affected by Self-Reporting, Says Enforcement Division Official\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to Securities and Exchange Commission Stephen Cohen, when an entity self-reports possible wrongdoing, the \u201ctone\u201d of the SEC investigation into the matter may be impacted in a manner that benefits that party. Cohen, who spoke while participating at a Securities Docket&#8217;s Securities Enforcement Forum panel in DC last month (he made it clear that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3760,3761],"tags":[],"class_list":["post-5396","post","type-post","status-publish","format-standard","hentry","category-sec-enforcement","category-securities-and-exchange-commis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u201cTone\u201d of SEC Probe Can May Be Affected by Self-Reporting, Says Enforcement Division Official &#8212; Investor Lawyers Blog &#8212; November 30, 2012<\/title>\n<meta name=\"description\" content=\"According to Securities and Exchange Commission Stephen Cohen, when an entity self-reports possible wrongdoing, the \u201ctone\u201d of the SEC investigation into &#8212; November 30, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/tone-of-sec-probe-can-be-affec\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"\u201cTone\u201d of SEC Probe Can May Be Affected by Self-Reporting, Says Enforcement Division Official &#8212; Investor Lawyers Blog &#8212; November 30, 2012\" \/>\n<meta name=\"twitter:description\" content=\"According to Securities and Exchange Commission Stephen Cohen, when an entity self-reports possible wrongdoing, the \u201ctone\u201d of the SEC investigation into &#8212; November 30, 2012\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\u201cTone\u201d of SEC Probe Can May Be Affected by Self-Reporting, Says Enforcement Division Official &#8212; 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