BloombergBMW AG is being scrutinized by the US Securities and Exchange Commission (SEC) over its sales reporting practices, months after the regulator extracted a penalty from Fiat Chrysler Automobiles NV over similar issues. The German automaker has been contacted by the SEC and would cooperate fully with its investigation, BMW spokesman Phil DiIanni said by telephone. The agency does not comment on the existence of any probes, SEC spokesman Kevin Callahan said. Fiat Chrysler in September agreed to pay a US$40 million penalty related to years of sales reports the SEC said were fraudulent. The Wall Street Journal had reported on the SEC’s investigation of BMW earlier in the day.

Source: Taipei Times December 24, 2019 15:56 UTC