Financial services firm BISYS said it has completed its previously disclosed settlement with the Securities and Exchange Commission (SEC) with respect to the SEC’s investigation into its 2004 and
2005 restatements.
Under the settlement, the company has agreed, without admitting or denying any wrongdoing, to refrain from future violations of the reporting, books and records and internal control provisions of the federal
securities laws and related SEC rules.
As previously disclosed, the company said it will pay $25.1 million in
disgorgement and prejudgment interest, which amount was placed in escrow in January 2007 as part of the settlement.
This settlement concludes the SEC’s investigation of this matter with respect to the company, according to Robert Casale, chairman, and interim CEO and president of BISYS.
Source: The BISYS Group, Inc.
www.bisys.com
Was this article valuable?
Here are more articles you may enjoy.
Connecticut High Court: Injured Rental Car Occupants Covered for Uninsured Motorist 
AI Ruling Prompts Warnings From Lawyers: Your Chats Could Be Used Against You 
Wall Street Banks Try Out Anthropic’s Mythos 
Verisk: Insurance Claims Volume Fell to 5-Year Low in 2025 
