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SEC DROPS CASE AGAINST RIO TINTO EXEC ELLIOTT! WHAT HAPPENED?!

  
January 9, 2026


  
  

    

      
      

    

  




  



        


SEC v. Guy Robert Elliott — U.S. Securities and Exchange Commission Litigation Release No. 26459, dated January 9, 2026.


The SEC has dismissed its civil enforcement action against Guy Elliott, a former Rio Tinto executive. The dismissal, filed as a joint stipulation with Elliott, was made with prejudice and without costs to either party. This decision was based on the specific facts and circumstances of this case and does not set a precedent for other cases.




In Plain English
The SEC decided to drop its case against a former executive named Guy Elliott. They filed paperwork saying they agree to close the case. This means the SEC won't pursue charges against him anymore for this specific situation. They mentioned this decision is just for this case and doesn't affect other cases.
Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.


How the Alleged Scheme Worked
  1. SEC Files Complaint The Securities and Exchange Commission (SEC) initiated a civil enforcement action by filing a complaint against Guy Robert Elliott on October 17, 2017, in the United States District Court for the Southern District of New York.
  2. Allegations of Misleading Statements The complaint alleged that the defendant, Guy Elliott, made misleading statements related to the company's business. The specific nature of these misleading statements is not detailed in the dismissal document, but they formed the basis of the SEC's enforcement action.
  3. Joint Stipulation for Dismissal On January 9, 2026, the SEC and Guy Elliott filed a joint stipulation to dismiss the case. This agreement indicated that both parties consented to the dismissal.
  4. Dismissal with Prejudice The stipulation stipulated that the Litigation be dismissed with prejudice as to the conduct alleged in the Complaint through the date of the filing of the stipulation. This means the SEC cannot refile the same claims against Elliott.
  5. No Costs or Fees As part of the stipulation, both parties agreed that the dismissal would be without costs or fees to either party. This indicates a mutual agreement to conclude the matter without further financial repercussions for either side.
  6. SEC's Discretionary Decision The SEC stated that its decision to dismiss the pending enforcement action was based on the specific facts and circumstances of this case. They explicitly noted that this decision does not necessarily reflect the Commission’s position on any other case.
  7. Defendant's Waivers Guy Elliott, for himself and his representatives, waived and released any rights to seek reimbursement of attorney's fees or costs from the United States under the Equal Access to Justice Act or similar laws. He also released claims against the SEC and its employees related to the litigation.


The Enforcement Action
The SEC announced the dismissal of its civil enforcement action against former Rio Tinto executive Guy Elliott. The dismissal was filed as a joint stipulation with the defendant and was made with prejudice and without costs or fees to either party. The SEC stated that this decision was based on the specific facts and circumstances of the case and does not set a precedent for other cases.


Named in this action: Guy Robert Elliott.


Original SEC litigation release ↗ · Browse all cases