The U.S. Securities and Exchange Commission is investigating Nissan over executive pay. The Japanese automaker said Monday that it received an inquiry from the SEC and is cooperating fully with the agency.
Source: www.rttnews.com
Nissan Motor Co. is being investigated by The Securities and Exchange Commission (SEC) on charges related to incorrect disclosure of executive-pay, and more specifically if the Company had adequate controls to prevent improper payments. The Investigation comes following the arrest of its former Chairman, Carlos Ghosn and another company Director, Greg Kelly over allegations that Ghosn underreported his income by tens of millions of dollars. While the inquiry is in early stages and may not point any wrongdoings, the SEC could seek financial penalties and injunctions to prevent future violations of laws.
