United States ยท US Securities and Exchange Commission (settled action, final judgment in the US District Court for the Southern District of New York)
Greg Kelly: director ban
Ended The final judgment barred him for five years following its entry on 26 December 2019. The end date is calculated from that start and length, the SEC did not state one. On that calculation the five year term has run.
Grounds
The SEC said Kelly, a former Nissan director, was involved in concealing Ghosn's retirement compensation from investors. He settled without admitting or denying the allegations, agreeing to a 100,000 dollar penalty, a five year officer and director bar and a five year suspension from appearing before the Commission as an attorney.1,2,3
Companies
Nissan Motor Co., Ltd.
Record
- SEC announced settled charges against Nissan, Ghosn and Kelly.1,2
- Final judgment against Kelly filed and entered in the Southern District of New York.3
Sources
- US Securities and Exchange Commission, Press Release 2019-183, SEC charges Nissan, former CEO and former director with concealing compensation from investors (23 September 2019)
- US Securities and Exchange Commission, Litigation Release No. 24606, SEC Charges Nissan, Former CEO, and Former Director with Fraudulently Concealing from Investors More Than 140 Million Dollars (23 September 2019)
- US Securities and Exchange Commission, Final Judgment as to Defendant Gregory L. Kelly, SEC v. Nissan Motor Co., Ltd. et al., 19-cv-08798 (SDNY) (26 December 2019)
A disqualification restricts acting as a company director for the period stated. It is a civil measure and is not a criminal conviction unless stated. How bans work.