Recent SEC Action Signals Agency’s Close Scrutiny of Company Perk Disclosures

The Securities Exchange Commission (SEC) recently assessed a $900,000 fine against Argo Group International Holdings due to the company’s failure to fully disclose CEO perquisites over a five-year period. This enforcement action represents one of a series of actions on perquisite disclosures and related matters that the SEC has undertaken against public companies over the last several years.

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Generally, perquisites and personal benefits constitute a relatively small portion of a named executive officer’s total compensation. Nonetheless, perquisites and personal benefits can draw significant scrutiny by investors and the media, especially in cases of unusual or outsized perquisites. Therefore,…