The Securities and Exchange Commission found that BMW inflated its monthly U.S. sales numbers from 2015 to 2019 and must pay a fine of $18 million to settle the allegations — approximately the same amount the OEM raised in several corporate bond offerings. The sales figures allowed BMW to maintain a leading retail sales position. “Companies accessing U.S. markets to raise capital have an obligation to provide accurate information to investors,” said Stephanie Avakian, the SEC’s Enforcement Division director. (Source: Driving.ca) Read the original article…
