The SEC Division of Corporation Finance updated its Compliance and Disclosure Interpretations regarding (i) listing standards related to recovery of erroneously awarded compensation and (ii) disclosure of executive compensation by foreign issuers.
News & Insights
The SEC Division of Corporate Finance staff granted no-action relief to a Canada-based oil company which would allow it to conduct a tender offer in the United States in accordance with Canadian law.
A Brazil-based airline was ordered to pay over $100 million in fines and restitution to settle parallel SEC and DOJ enforcement actions for perpetrating a bribery scheme to gain payroll tax and aviation fuel tax reductions in violation of the Foreign Corrupt Practices Act.
SEC Office of International Affairs Director YJ Fischer underscored that continued trading of Chinese securities on U.S. exchanges will require the resolution of audit access issues.
The SEC staff from the Division of Corporate Finance provided no-action relief to a Canadian corporation and allowed it to conduct a tender offer in the United States in accordance with Canadian law.