Carilion Clinic on Thursday announced it reached a settlement with the Securities and Exchange Commission for failing twice during the past five years to report complete financial records on time.
Carilion’s settlement was among 71 enforcement actions against municipal issuers announced by the SEC this week.
A news release from the SEC said the issuers sold municipal bonds using offering documents that contained materially false statements or omissions about their compliance with continuing disclosure obligations. Carilion was the only issuer in Virginia on the SEC’s list.
“As a municipal bond market participant, Carilion Clinic is committed to complying with securities laws and meeting standards of best practice by disclosing timely and complete financial and operating data,” CFO Don Halliwill said in a prepared statement. “The organization discovered that, on two occasions during the past five years, it had delayed reporting information due to clerical errors.”
