The SEC set an effective date of January 2, 2024 and accompanying compliance dates for new Exchange Act Rule Rule 10c-1. The final rule was published in the Federal Register.
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The SEC adopted a new rule under the Securities Exchange Act which imposes reporting requirements on persons who lend "reportable securities."
A former bank executive settled SEC charges for misleading investors about the financial success of one of the bank's core businesses.
A trust company settled SEC charges for (i) conducting securities transactions without registering as a broker-dealer and taking steps to conceal its unregistered activities, and (ii) making misleading statements regarding a service that allowed investors to create an irrevocable trust online.
A bank settled parallel SEC and Federal Reserve Board charges for (i) extending lines of credit to affiliates of the bank's CEO without the majority approval of its board, (ii) failing to disclose related party loans in annual reports and proxy statements, and (iii) issuing materially misleading statements.