All Securities and Exchange Commission articles – Page 64
-
Blog
SEC charges two firms with compliance failures in wrap fee programs
Two investment advisory firm—Raymond James & Associates and Robert W. Baird & Co.—settled charges with the SEC related to compliance failures within their wrap fee programs. Jaclyn Jaeger has more.
-
Blog
Health Net to pay $340K for whistleblower ‘pretaliation’
The SEC reached a consent agreement with yet another company over allegations it violated securities laws for using severance agreements that required outgoing employees to waive their ability to obtain monetary awards from the Commission’s whistleblower program. Jaclyn Jaeger reports.
-
Blog
Orthofix braces for SEC settlement in FCPA case
Orthofix International has recorded a charge of $4.6 million in the second quarter of 2016 to resolve potential FCPA charges with respect to its subsidiary in Brazil. Jaclyn Jaeger has more.
-
Blog
SEC: Key Energy to pay $5 million in FCPA case
Key Energy Services will pay $5 million to the SEC in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger has more.
-
Blog
LATAM Airlines resolves FCPA case for $22 million
LAN Airlines (now known as LATAM Airlines Group), a commercial airline company based in South America, has agreed to pay more than $22 million to settle parallel civil and criminal cases related to improper payments it authorized during a dispute between the airline and its union employees in Argentina. Jaclyn ...
-
Blog
SEC proposes new disclosure rules for broker-dealers
The Securities and Exchange Commission was busy this week: disclosure rules for broker-dealers; simplification of disclosure requirements; changes to administrative proceedings … Jaclyn Jaeger has the Commission rundown.
-
Blog
SEC proposes to simplify disclosure requirements
The SEC this week voted to propose amendments to eliminate redundant, overlapping, outdated, or superseded provisions, in light of subsequent changes to disclosure rules, accounting principles, and technology. The SEC is also soliciting comment on certain disclosure requirements that overlap with U.S. GAAP to determine whether to retain, modify, eliminate ...
-
Blog
SEC adopts changes to administrative proceedings
The SEC this week adopted amendments updating its rules of practice governing its administrative proceedings. After careful consideration of the comments received, the SEC adopted final amendments that, among other things, would adjust the timing of administrative proceedings and give parties additional opportunities to take depositions of witnesses. Jaclyn Jaeger ...
-
Blog
SEC will revisit board diversity disclosures
In the coming weeks, the Securities and Exchange Commission will revisit its existing requirement to disclose board-level diversity, Chairman Mary Jo White said this week during a speech in San Francisco. The goal is to improve reporting requirements that have proven to be ineffective, she says.
-
ArticleSEC faces a bipartisan beat-down in Congress
Yes, there is one thing that still inspires bipartisanship in Congress: attacking the Securities and Exchange Commission. That was revealed in recent days, says CW’s Joe Mont, with proposed legislative constraints on its rulemaking powers and a table-pounding attack on its disclosure effectiveness initiative from Massachusetts Senator Elizabeth Warren (above ...
-
Article
Latest conflict minerals filings show improved due diligence
Regardless of legal disputes and other challenges, companies still had a deadline last month for filing conflict minerals disclosures with the SEC. This year Joe Mont says, many companies appeared to be taking their reporting much more seriously with some already getting a jumpstart on 2017.
-
Blog
SEC’s 10-K amendment clarifies use of summary statements
The SEC has approved an interim final rule that clarifies how Form 10-K filers may provide a summary of business and financial information contained in the annual report. It implements a provision of the Fixing America’s Surface Transportation (FAST) Act. Joe Mont provides an in-depth look at the rule.
-
Blog
GAO warns SEC about data protection practices
A report by the Government Accountability Office finds that while the SEC has made strides in improving the security of its data and resolving previously identified problems, “weaknesses continue to limit the effectiveness of other security controls.” Joe Mont explores what steps the Commission should take, according to the report.
-
Blog
Cato Institute paper proposes JOBS Act improvements
On the same day the SEC announced it had completed the remaining workload on JOBS Act mandates, conservative think tank the CATO Institute, in an unrelated effort, offered its thoughts on how the legislation is meeting capital formation goals and ways it could be improved. Joe Mont reports.
-
Blog
SEC wraps up remaining JOBS Act workload
On Tuesday, the SEC, completing its remaining workload on JOBS Act mandates, approved amendments to revise the rules related to the thresholds for registration, termination of registration, and suspension of reporting under Section 12(g) and 15(d) of the Securities Exchange Act. Joe Mont has more.
-
ArticleSEC’s massive database plan starts to take shape
The SEC’s Consolidated Audit Trail initiative, which will give regulators a means to efficiently track all trades in real time, has moved one giant step closer to reality with a call for public comments. But what will its final form look like? Joe Mont offers a closer look.
-
Blog
SEC launches new calculation tool for filing fees
The Securities and Exchange Commission has released a new online tool to help companies calculate registration fees for form submissions to EDGAR, its electronic database of financial reports and other filings. The new Registration Fee Estimator is intended to improve the accuracy of fee calculations and minimize the need for ...
-
Blog
SEC forgoes Supreme Court appeal for conflict minerals rule
The SEC had until April 7 to defend its controversial conflict minerals rule by appealing to the Supreme Court. While many watched for the filing of a writ of certiorari on the deadline day, there was a twist: A decision to forgo a challenge was made, with little fanfare, last ...
-
Blog
White details how SEC may utilize budget boost
Image: Defending a proposed $1.8 billion budget for the SEC before Congress, Chairman Mary Jo White provided a look at its future efforts. The proposed funding will allow the agency to hire an additional 250 staff in “critical, core areas,” White said. Goals include increasing examination coverage of investment advisers; ...
-
Article
SEC nominees in the firing line at Senate hearing
During a nomination hearing before the Senate Banking Committee on March 15, President Obama’s picks to fill vacancies on the Securities and Exchange Commission—Republican Hester Peirce and Democrat Lisa Fairfax—endured more than two hours of questioning that ranged from cordial to confrontational. Enforcing individual liability, ensuring cost-effective rulemaking, and the ...