Law Blog Tag: sec

SEC Chair Jay Clayton Discusses Direction Of SEC

In a much talked about speech to the Economic Club of New York on July 12, 2017, SEC Chairman Jay Clayton set forth his thoughts on SEC policy, including a list of guiding principles for his tenure. Chair Clayton’s underlying theme is the furtherance of opportunities and protection of Main Street investors, a welcome viewpoint Read the full article…

FINRA Proposes New Registration And Examination Rules

May 30, 2017 in FINRA, FINRA Compliance, SEC

On March 8, 2017, the Financial Industry Regulatory Authority (FINRA) filed a proposed rule change with the SEC to adopt amended registration rules and restructure the entry-level qualification examination for registered representatives. The new rules would also eliminate certain examination categories. FINRA is planning to implement the changes in two phases, with full implementation completed Read the full article…

SEC Issues Final Rules Requiring Links To Exhibits

April 11, 2017 in Regulation S-K, Regulation S-X, SEC

On March 1, 2017, the SEC passed a final rule requiring companies to include hyperlinks to exhibits in filings made with the SEC. The amendments require any company filing registration statements or reports with the SEC to include a hyperlink to all exhibits listed on the exhibit list. In addition, because ASCII cannot support hyperlinks, Read the full article…

The SEC Has Issued New Guidance Related To Foreign Private Issuers

On December 8, 2016, the SEC issued 35 new compliance and disclosure interpretations (C&DI) including five related to the use of Form 20-F by foreign private issuers and seven related to the definition of a foreign private issuer. C&DI Related to use of Form 20-F In the first of the five new C&DI, the SEC Read the full article…

The SEC Has Proposed The Use Of Universal Proxy Cards

February 28, 2017 in Proxy Statement, SEC, SEC Proxy Rules

The SEC has seen a huge exodus of key officials and employees since the recent change in administration, and the ultimate effect of these changes on pending or proposed rule making remains to be seen. However, some proposed rules, whether published or still in drafting process, will remain largely unaffected by the political changes. This Read the full article…

SEC Issues White Paper On Penny Stock Risks

February 21, 2017 in NASDAQ, NYSE MKT, OTC Market, OTC Pink, OTCBB, OTCQB, OTCQX

On December 16, 2016, the SEC announced several new settled enforcement proceedings against market participants including issuers, attorneys and a transfer agent, related to penny stock fraud. On the same day the SEC issued a new white paper detailing the risks associated with investing in penny stocks. This blog summarizes the SEC white paper. As Read the full article…

What Does The SEC Do And What Is Its Purpose?

February 14, 2017 in SEC

As I write about the myriad of constantly changing and progressing securities law-related policies, rules, regulations, guidance and issues, I am reminded that sometimes it is important to go back and explain certain key facts to lay a proper foundation for an understanding of the topics which layer on this foundation. In this blog, I Read the full article…

SEC Issues New C&DI Clarifying The Use Of Form S-3 By Smaller Reporting Companies; The Baby Shelf Rule

January 17, 2017 in C&DI, Form 8-K, Form S-3, SEC

The SEC has been issuing a slew of new Compliance and Disclosure Interpretations (“C&DI”) on numerous topics in the past few months. I will cover each of these new C&DI in a series of blogs starting with one C&DI that clarifies the availability of Form S-3 for the registration of securities by companies with a Read the full article…

SEC Issues Guidance On Integration With A 506(c) Offering

January 10, 2017 in C&DI, Rule 506, SEC

On November 17, 2016, the SEC Division of Corporation Finance issued a new Compliance and Disclosure Interpretations (C&DI) related to the integration of a completed 506(b) offering with a new 506(c) offering. The new C&DI confirms that 506(c) offering will not integrate with a previously completed 506(b) offering. Effective September, 2013, the SEC adopted final Read the full article…

SEC Issues Report On Regulation S-K

As required by Section 72003 of the Fixing America’s Surface Transportation Act (the “FAST Act”), on November 23, 2016, the SEC issued a Report on Modernization and Simplification of Regulation S-K (the “Report”) including detailed recommendations for changes. The Report continues the ongoing review and proposed revisions to Regulations S-K and S-X as related to Read the full article…

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