September 14, 2016 BY Valentina Kirilova

SEC fines Portuguese company for failing to disclose credit risk in investments

The Securities and Exchange Commission (SEC) has announced that a Portuguese-based telecommunications company has agreed to pay a $1.25 million penalty for its failure to properly disclose the nature and extent of credit risk involved in its investments in debt instruments issued by companies of Portuguese conglomerate Grupo Espirito Santo. An SEC investigation found that Portugal Telecom…

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