The SEC is now enforcing insider reporting obligations. Twenty-Eight insiders (directors, officers and major shareholders) as well as six public companies have recently been sanctioned for failing to timely file beneficial ownership reports under Section 16(a) and Schedules 13D and 13G.
In a program held on September 15, 2014 sponsored by the Securities and Exchange Commission Historical Society on Current Issues in Broker-Dealer Enforcement, Andrew Ceresney, the Director of the SEC’s Division of Enforcement responded to questions concerning whether the Division was implementing a ‘broken window’ philosophy of enforcement.
On September 16, 2014, the Securities and Exchange Commission (“SEC”) announced the latest sanctions in a continuing enforcement initiative against certain hedge fund advisers and private equity firms that have participated in an offering of a stock after short selling it during a restricted period in contravention of SEC rules.
Can merely late filing of “routine” forms get you in trouble with the SEC? Yes, at least if it happens too often.
In June 2014, the SEC ordered the national securities exchanges and FINRA to develop and file a proposal for a tick size pilot program.
Last week the SEC announced that, for the first time, it had made a whistleblower award to an employee who performs audit and compliance functions at a company.
As we all know, the SEC and FINRA have made cyber-security an exam priority in 2014, but what does it mean when the audit of your regulator shows that it is susceptible to a data breach.
Deadlines Applicable to Colleges and Universities Approaching for Participation in SEC’s Continuing Disclosure Cooperation
On March 10, 2014, the Securities and Exchange Commission (“SEC”) announced a voluntary self-reporting program for issuers and underwriters of municipal bonds for reporting of inaccurate statements made in offering documents regarding prior continuing disclosure compliance through a program called the Municipalities Continuing Disclosure Cooperation Initiative (the “MCDC initiative”).
A round of golf is the perfect opportunity to converse with friends. But as a group of amateur golfers recently discovered, offering a fellow player an insightful tip on his swing may cost you the round, but offering a fellow player an insider tip on a stock may cost much more.