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Tag: News
SEC Monitoring Impact of Hurricane Laura on Capital Markets
The Securities and Exchange Commission is closely monitoring the impact of Hurricane Laura on investors and capital markets. The SEC divisions and offices that oversee companies, accountants, investment advisers, mutual funds, brokerage firms, transfer agents, and other regulated entities and investment professionals will continue to closely track developments. They will […]
SEC Adopts Rule Amendments to Modernize Disclosures of Business, Legal Proceedings, and Risk Factors Under Regulation S-K
The Securities and Exchange Commission today announced that it voted to adopt amendments to modernize the description of business (Item 101), legal proceedings (Item 103), and risk factor disclosures (Item 105) that registrants are required to make… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Modernizes the Accredited Investor Definition
The Securities and Exchange Commission today adopted amendments to the “accredited investor” definition, one of the principal tests for determining who is eligible to participate in our private capital markets. Historically, individual investors who do not meet specific income or net worth tests, regardless of their financial sophistication, have been […]
SEC Charges Super Micro and Former CFO in Connection with Widespread Accounting Violations
The Securities and Exchange Commission today charged Super Micro Computer, Inc., a producer of computer servers, and its former CFO, Howard Hideshima, with prematurely recognizing revenue and understating expenses over a period of at least three years.… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
Firm Settles Charges of Defrauding Investors, Refunds Allegedly Ill-Gotten Gains
The Securities and Exchange Commission today announced that SCF Investment Advisors, Inc. (SCF) has agreed to settle charges that it selected mutual funds and cash sweep money market funds for clients that provided undisclosed revenue to the firm’s… Read the Full Press Release Have a securities law question? Call Sallah […]
Another Whistleblower Award – $18 Million to Whistleblower
The SEC awarded more than $18 million to a whistleblower whose significant information prompted an examination that resulted in an important enforcement action. The SEC has awarded over $448 million to 81 individuals since issuing its first award in 2012. Whistleblowers may be eligible for an award when they voluntarily […]
Another SEC Whistleblower Award – $2 Million
A flurry of whistleblower awards are coming out of the SEC. Yesterday it announced an award of approximately $2 million to a whistleblower who, according to the Commission “provided vital information and assistance that substantially contributed to an ongoing investigation. The whistleblower’s information would have been difficult for the agency […]
IRS Issues Warning About Coronavirus-Related Scams
The IRS and its Criminal Investigation Division have seen a wave of new and evolving phishing schemes against taxpayers. In most cases, the IRS will deposit economic impact payments into the direct deposit account taxpayers previously provided on tax returns. Those taxpayers who have previously filed but not provided direct […]
SEC Provides Regulatory Relief to Market Participants Affected by COVID-19
The SEC is providing additional temporary regulatory relief to market participants in response to the effects of the Coronavirus Disease 2019 (COVID-19). The actions announced today involve (1) parties needing to gain access to make filings on the EDGAR system, (2) certain company filing obligations under Regulation A and Regulation […]