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Trend Micro CEO settles SEC action

Company says its chief executive reached a settlement with the SEC over allegations of securities violations in the trading of SINA stock.

Trend Micro announced Thursday that its chief executive, Eva Chen, reached a settlement with the Securities and Exchange Commission over allegations of violating SEC regulations involving her spouse, Daniel Chiang, and the trading in SINA shares. Chiang is the former cochairman of SINA.

Under terms of the settlement, Chen neither admitted nor denied the allegations and agreed to pay the SEC a civil penalty, as well as not to violate securities laws. Trend Micro's board of directors affirmed its confidence in Chen's ability to remain CEO and a director.