Cooperating with SEC’s probe on executive pay: Nissan

The Carlos Ghosn saga is now being under the SEC’s loop. As per a source, the SEC is examining whether Nissan has maintained adequate controls to prevent improper payments.

On Monday, Nissan Motor Co stated, it is co-operating with an inquiry from the U.S. Securities and Exchange Commission (SEC) following reports of under-reporting executive pay by the automaker.

The Japanese carmaker has accused its former chairman Carlos Ghosn of financial misconduct. Ghosn was first arrested on November 19, 2018. Prosecutors have charged him along with Nissan for under-reporting his pay.

Ghosn has denied the charges.

As per a report from Bloomberg, which cites sources familiar with the matter at hand, as saying, the SEC is examining whether Nissan has maintained adequate controls to prevent improper payments.

Confirming the inquiry, Nissan’s spokesman stated, the automaker has received an inquiry from the SEC.

The SEC was not immediately available to comment on the matter.

With the news reaching the market, Nissan’s shares were down by 1.0% at 919 yen in mid-afternoon trade, compared with a 0.4% decline in the Nikkei average.

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