SEC-PR-2024-33 (MAR. 7, 2024) Source: https://www.sec.gov/newsroom/press-releases/2024-33 Download: SEC-PR-2024-33 (PDF) PRESS RELEASE | 2024-33 SEC Charges Skechers with Making Undisclosed Payments to Executives’ Family Members. Company also charged with failing to disclose outstanding loans to its executives. Washington D.C., March 7, 2024 — The Securities and Exchange Commission today announced that Skechers U.S.A. Inc., a footwear […]
Category: Undisclosed Payments
Undisclosed Payments refer to financial transactions that are intentionally kept hidden or not reported, often violating transparency and legal requirements. These payments can occur in various contexts, such as business deals, political contributions, or employee compensation. The lack of disclosure can lead to conflicts of interest, corruption, tax evasion, or other unethical or illegal activities. Undisclosed payments undermine trust, distort financial reporting, and can result in legal penalties, reputational damage, and a loss of credibility for the entities involved.