US securities commission probes Nissan amid executive pay investigation
The inquiry is examining whether the company maintained adequate controls to prevent improper payments
Tokyo — Nissan Motor said on Monday it is the target of a US Securities and Exchange Commission (SEC) inquiry, widening a scandal involving the Japanese firm and its ousted chair Carlos Ghosn over his alleged financial misconduct. Ghosn, first arrested on November 19 in Japan, has been charged with failing to disclose more than $80m in additional Nissan compensation for 2010-18 that he had arranged to be paid later. Ghosn, swiftly dismissed as Nissan chair after the arrest, has denied wrongdoing. Nissan was also charged by Japanese prosecutors for underreporting his pay, and has since pledged to overhaul its governance. Bloomberg earlier reported that the US regulator is investigating the company’s disclosures on executive pay. The report, citing sources, said the SEC is examining whether the company maintained adequate controls to prevent improper payments and whether lapses by Nissan violated US securities law. Separately, The Wall Street Journal reported that the SEC also sent a ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.