Month: November 2020


SEC Proposes Temporary Rules to Facilitate Measured Participation by Certain “Platform Workers” in Compensatory Offerings Under Rule 701 and Form S-8

The Securities and Exchange Commission today voted to propose rules that, on a temporary basis and subject to percentage limits (no more than 15% of annual compensation), dollar limits (no more than $75,000 in three years) and other conditions, would… Read the Full Press Release Have a securities law question? […]

Securities and Exchange Commission

SEC Claims Wells Fargo Executives Misled Investors

The SEC filed a complaint in federal court charging former Wells Fargo & Co. CEO and Chairman John G. Stumpf and former head of Wells Fargo’s Community Bank Carrie L. Tolstedt for their roles in allegedly misleading investors about the success of the Community Bank, Wells Fargo’s core business. Prior […]

Compliance News

Firm Fined For Lax Text Message Storage

Broker-dealers are required to store and preserve all communications sent and received by their brokers for a period of three years pursuant to Section 17(a) and Rule 17a4 of the Exchange Act. That requirement includes text messages, as one firm recently learned the hard way. The SEC instituted administrative proceedings […]