Violation Tracker Individual Record

Company: 
BMW AG
Current Parent Company: 
BMW
Penalty: 
$18,000,000
Year: 
2020
Date: 
September 24, 2020
Offense Group: 
financial offenses
Primary Offense: 
accounting fraud or deficiencies
Violation Description: 

The Securities and Exchange Commission settled charges against Germany-based automaker BMW AG and two of its U.S. subsidiaries for disclosing inaccurate and misleading information about BMW's retail sales volume in the U.S. while raising approximately $18 billion from investors in several corporate bond offerings.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Germany
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
motor vehicles
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.