Fiat agrees to pay US$9.5 million penalty for misleading on emissions audit - US SEC

Fiat agrees to pay US$9.5 million penalty for misleading on emissions audit - US SEC

Fiat Chrysler will US$9.5 million civil penalty to settle allegations it misled investors by not disclosing that it conducted only a limited internal review on its compliance with emissions regulations and that government engineers were concerned about emissions from some of its diesel vehicles, the top U.S. securities regulator said on Monday.

FILE PHOTO: FILE PHOTO: A Fiat Chrysler Automobiles sign at the U.S. headquarters in Auburn Hills,
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/

WASHINGTON: Fiat Chrysler will pay a US$9.5 million civil penalty to settle allegations it misled investors by not disclosing that it conducted only a limited internal review on its compliance with emissions regulations and that government engineers were concerned about emissions from some of its diesel vehicles, the top U.S. securities regulator said on Monday.

The carmaker did not admit or deny the Securities and Exchange Commission's findings in agreeing to the settlement.

(Reporting by Lisa Lambert; Editing by Sandra Maler)

Source: Reuters

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