SEC v. Charter Communications, Inc. (2023)

Settled

✓ Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In November 2023 the SEC settled with Charter Communications over internal accounting control failures in its share buyback programme, because many trading plans used during closed windows did not meet Rule 10b5-1 requirements the board had assumed. Charter paid a $25 million civil penalty.

The record

What was ordered

Civil penalty

$25m

Disgorgement

—

Prejudgment interest

—

Total relief

$25m

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission issued the order on November 14, 2023.

The order finds that from 2017 to 2021 many of Charter's trading plans for repurchases did not satisfy Rule 10b5-1, because provisions let the company change the amounts available for buybacks, although the board had authorised repurchases in closed windows only through conforming plans.

Rule 10b5-1 is referred to as a defence to insider trading liability; Charter is not alleged to have traded on inside information, so the tag has been removed.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

Timeline

1. 2023-11-14 Administrative proceeding instituted (cease-and-desist)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC order

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Record added September 10, 2026. submit a correction.