Four months after the US Senate's Permanent Subcommittee held hearings to look into Apple's off-shore tax practices the Security and Exchange Commission has ruled that Apple did not violate any laws. As AllThingsD reports:
In a September letter to Apple, released late last week, the SEC said it had completed its review of the company's fiscal 2012 annual report, and would take no action against it at this time. Evidently, there's no need to, as the agency has found Apple's disclosures to be sufficient, particularly now that it has agreed to provide investors with more information about its foreign cash, tax policies and plans for reinvestment of foreign earnings. In the SEC's eyes, Apple accounts for taxes in accordance with generally accepted a
