The Securities and Exchange Commission today voted to adopt final rules requiring parties in a contested election to use universal proxy cards that include all director nominees presented for election at a shareholder meeting. The rule changes will give…For More information on the United States Securities Law visit Securities Law […]
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SEC Charges Oilfield Services Company and Former CEO With Failing to Disclose Executive Perks and Stock Pledges
The Securities and Exchange Commission today announced that Texas-based oilfield services company ProPetro Holding Corp. and its founder and former CEO Dale Redman have agreed to settle charges that they failed to properly disclose some of Redman’s… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
SEC Issues Whistleblower Awards Totaling Approximately $10.4 Million
The Securities and Exchange Commission today announced awards totaling approximately $10.4 million to several whistleblowers who provided information and assistance in three separate covered actions. In the first order, the SEC issued awards totaling approximately $7.5 million to two whistleblowers. Both whistleblowers provided new and significant information during an existing […]
SEC Announces Enforcement Results for FY 2021
The Securities and Exchange Commission today announced that it filed 434 new enforcement actions in fiscal year 2021, representing a 7 percent increase over the prior year. Seventy percent of these new or “stand-alone” actions involved at least one… Read the Full Press Release Have a securities law question? Call […]
SEC Proposes Updates to Electronic Recordkeeping Requirements
The Securities and Exchange Commission (“Commission”) is proposing amendments to the electronic recordkeeping requirements for broker-dealers, security-based swap dealers (“SBSDs”), and major security-based swap participants (“MSBSPs”). DATES: Comments should be received on or before January 3, 2022. View the complete rule proposal https://www.sec.gov/rules/proposed/2021/34-93614.pdf Originally posted at The Securities Law Blog […]
McKinsey Affiliate to Pay $18 Million for Compliance Failures in Handling of Nonpublic Information
The Securities and Exchange Commission today announced that an affiliate of McKinsey & Company that offers investment options exclusively to current and former McKinsey partners and employees has agreed to pay an $18 million penalty for compliance… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
SEC Proposes Rule to Provide Transparency in the Securities Lending Market
The Securities and Exchange Commission today published proposed Exchange Act Rule 10c-1, which would require lenders of securities to provide the material terms of securities lending transactions to a registered national securities association, such as… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox […]
SEC Proposes Rule Amendments to Proxy Rules Governing Proxy Voting Advice
The Securities and Exchange Commission today voted to propose amendments to its rules governing proxy voting advice. The proposed amendments aim to address concerns expressed by investors and others that the current rules may impede and impair the… Read the Full Press Release Have a securities law question? Call Sallah […]
SEC Slams Almost All Robo-Advisors With Deficiency Letters
SEC Slams Almost All Robo-Advisors With Deficiency Letters: Examiners gave particular attention to whether or not robo-advisors were upholding their fiduciary duty. Originally posted at The Securities Law Blog Visit the Web’s top securities law site – SEClaw.com. Online since 1995, updated daily.
SEC Subpoena, FINRA OTR – What do I do?
The SEC Serves a Subpoena, or FINRA wants an OTR. Now what? By Mark J. Astarita, Esq. Introduction to SEC Subpoenas If you are served with an SEC Subpoena, or just receive a letter or telephone call from the SEC or FINRA 8210 Request, that call or subpoena is a […]
