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# SEC Investigation Updates: December 30, 2025
- URL: https://www.disclosureinsight.com/sec-investigation-updates-december-c46-2/
- Published: 2025-12-30T01:25:10.000Z
- Updated: 2026-07-03T18:01:41.000Z
- Description: Updates on SEC investigative activity - Six (6) companies
- Author: John P. Gavin, CFA
- Tags: Newsletter, #Migrated-1783101638980, #Import 2026-07-03 14:01

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[SEC Investigation Updates - December 30, 2025SEC Investigation Updates - December 30, 2025302 KBdownload-circle](https://www.disclosureinsight.com/api/v1/file/072f2f80-2be3-49f3-b666-d41c07ce15a6.pdf "Download")

## Company Comments

## AECOM – ACM

***Warning Reiterated.***

**Maintained on DI Watch List.** We’ve been tracking an undisclosed SEC investigation here since Dec-2023, with enforcement proceedings again confirmed as ongoing on 18-Dec-2025\. Four SEC investigations between 2012 and 2023, one was a FCPA matter in 2014.

## EPAM Systems, Inc. – EPAM

***Removed from Watch List.***

Latest signal, dated 27-Aug-2025, suggested an SEC probe was ongoing. However, as of 10-Dec-2025, our work concludes ongoing SEC enforcement proceedings do not appear to directly pertain to EPAM’s conduct, transactions, and/or disclosures. We also know EPAM was involved in an undisclosed cyber investigation that ended for the company on 12-May-2025\. The Trump SEC has shown little interest in pursuing investigations into cyber intrusions. We were tracking this since our Early Signal first received in Oct-2024.

## Optimum Communications, Inc., fka, Altice USA, Inc. – OPTU/ATUS

***Warning Reiterated.***

**Maintained on DI Watch List.** Enforcement proceedings now confirmed as ongoing three times since Nov-2023, most recently on 16-Dec-2025\. **Note**: Altice USA (ATUS) changed its name to Optimum Communications, effective 07-Nov-2025.

## Proctor & Gamble Company – PG

**Removed from Watch List.**

Removed while we await more data. Undisclosed SEC investigative activity previously confirmed as ongoing twice since Mar-2024, most recently on 02-May-2025\. However, we received a “nothing found” response, on 02-Dec-2025, which is inconsistent with earlier responses. We will appeal this latest response and follow-up as needed.

## Snowflake, Inc. – SNOW

***Removed from Watch List.***

An appeal response dated 21-Dec-2025, suggests undisclosed SEC investigative activity involving this company was over. File(s) remanded for additional processing and potential release of records. We will follow-up if we learn more. No other signs of investigative activity in the SEC’s latest response. Early Signal first received on 16-Oct-2024, was then confirmed as an ongoing investigation on 06-Jan-2025.

## Tradeweb Markets, Inc. – TW

***New Warning.***

Early signal of an undisclosed SEC investigation first received on 21-Apr-2025, and again on 03-Sep-2025\. It was later confirmed as an ongoing SEC investigation on 18-Dec-2025.

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