SEC v. Newpoint Financial Corp., Keith D. Beekmeyer and Andrew M. Bye (2024)

Settled

✓ Checked against the primary document on October 3, 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 September 2024 the SEC settled with Newpoint Financial Corp., its CEO Keith Beekmeyer and CFO Andrew Bye over missed Form 8-K filings on ceasing to be a shell and on material agreements, an unreviewed Form 10-Q, an inadequate auditor-change disclosure and unfiled ownership reports. Penalties total $300,000. No reverse-merger scheme is charged.

The record

What was ordered

Civil penalty

$300k

Disgorgement

—

Prejudgment interest

—

Total relief

$300k

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 announced settled administrative proceedings on September 20, 2024 (file nos. 3-22153 and 3-22154) against Newpoint, Beekmeyer and Bye. The SEC's order page, which is the only source this record could read, states that Newpoint failed to file required Form 8-K reports, including on ceasing to be a shell company and on material agreements, filed a Form 10-Q without auditor review, inadequately disclosed a July 2021 auditor change, and that Beekmeyer and Bye failed to file beneficial-ownership reports.

All three were ordered to cease and desist. Newpoint was ordered to pay a $250,000 penalty and each officer $25,000, with compliance undertakings for the officers, $300,000 in all. The record carried a reverse-merger tag that the summary does not support, so it has none, and listed only the company as defendant.

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. 2024-09-20 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.