SEC Imposes Penalties on Company and Officers for Inadequate Staffing in Accounting Department

March 28, 2016

The U.S. Securities and Exchange Commission (SEC) settled charges against Magnum Hunter Resources Corporation (MHR) and two of its officers for deficient oversight of the company’s internal controls over financial reporting (ICFR) on March 10, 2016. This marks a continuation of a trend of imposing penalties on individuals for insufficient responsiveness to red flags and oversight of the company’s internal control procedures.

Read "SEC Imposes Penalties on Company and Officers for Inadequate Staffing in Accounting Department."