> ## Content Index > Fetch the complete content index at: https://www.disclosureinsight.com/llms.txt > Use this file to discover other available public pages before exploring further. # SEC Investigation Updates: October 29, 2025 - URL: https://www.disclosureinsight.com/sec-investigation-updates-october-355-2/ - Published: 2025-10-28T23:57:21.000Z - Updated: 2026-07-03T18:01:43.000Z - Description: Updates on SEC investigative activity - Seven (7) companies - Author: John P. Gavin, CFA - Tags: Newsletter, #Migrated-1783101638980, #Import 2026-07-03 14:01 **All-access clients are welcome to contact us anytime to learn more.** ***Click on the PDF here to access today’s report or read full text below*** [SEC Investigation Updates - October 29, 2025SEC Investigation Updates - October 29, 2025305 KBdownload-circle](https://www.disclosureinsight.com/api/v1/file/06967e43-51fe-437c-bd81-82ea3dd3f271.pdf "Download") ## Company Comments ### AstraZeneca PLC – AZN ***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 02-Sep-2025\. AZN appears to be a FCPA frequent flyer, going back to 2010\. No clear disclosure of SEC investigative activity found since the 20-F filed on 21-Feb-2023, at which time AZN referred to having fully resolved a FCPA investigation with the SEC in Jul-2020. **DI’s Take**: As the Trump 47 SEC has reduced its focus on FCPA cases, this suggests AZN may be dealing with something unrelated. ### Bank of America Corporation – BAC ***New Warning*** **Added to Watch List.** Early signal of an undisclosed SEC investigation first received on 23-Jul-2025, later confirmed as an ongoing SEC investigation on 16-Sep-2025\. A separate, undisclosed investigation ended in Mar-2025\. We know nothing further on that matter. ### Citigroup, Inc. – C ***New Warning*** **Added to Watch List.** Early signal of an undisclosed SEC investigation first received on 12-Jun-2025, later confirmed as an ongoing SEC investigation on 08-Sep-2025\. We have documents from a 2024 SEC investigation into SPAC underwriters. ### KeyCorp – KEY ***Disclosed SEC Investigation Ends*** **New data** confirms KeyCorp’s claims an SEC probe into off-channel communications is over, as cited below. However, as of 08-Sep-2025, the company remains in a post-settlement compliance period which could go against them if they violate a related settlement agreement. No other signs of ongoing SEC investigative activity found. Per the KeyCorp 10-K filed on 22-Feb-2024: For example, on February 9, 2024, affiliates of Key entered into a settlement agreement with the SEC’s Division of Enforcement to resolve an investigation of the affiliates’ compliance with records preservation requirements related to business communications sent over off-channel electronic messaging platforms. ### Novo Nordisk A/S – NVO ***Removed from Watch List.*** **Undisclosed SEC Investigation ends.** Recently released documents tell us it was a FCPA probe, from Dec-2023 to Aug-2025, largely focused on Saudi Arabia. We were tracking this since Jul-2024. We find no signs of a post-settlement compliance period, which is otherwise common in FCPA matters. This is consistent with the Trump 47 SEC having recently lost interest in pursuing FCPA investigations. ### Tesla, Inc. – TSLA ***Warning Reiterated*** **We now know Tesla had not one, but two undisclosed SEC investigations**; one recently ended. The other one was recently confirmed as ongoing, as of 26-Sep-2025. An SEC investigation into Musk’s claims about Tesla autopilot, as first reported by Reuters in May-2024, could be the one that closed. We’re trying to get the related records. We have no idea what the other open investigation is about. ### Twitter, Inc. – TWTR ***Removed from Watch List.*** Latest signal, dated 15-May-2025, suggested an SEC probe was ongoing. However, an appeal response, dated 02-Sep-2025, now suggests SEC investigative activity involving the former Twitter is over. The SEC not once, not twice even – but three times – asked about Twitter’s user metrics in three different investigations since late 2015\. It also raised questions about user metrics in comment letters sent to the company three times between 2013-2017. Our work confirmed ongoing, and undisclosed SEC investigative activity seven times since May-2019\. We will not be surprised if we later learn this now-closed investigation was also about user metrics. ***\-- Disclosure Insight®*** [Subscribe](#/portal/signup) *This report does not constitute investment advice or an offering to buy, sell or recommend any securities. The information herein is distributed purely as a newsworthy event. All information contained herein is derived from publicly-available disclosures as made by the companies cited in this report, and/or documents obtained from the U.S. Securities and Exchange Commission.* *Our Terms of Service, relevant disclosures, and other legal notices can be* [*found here*](http://www.disclosureinsight.com/)*.*