A broadband connectivity company settled charges with the SEC for failing to maintain internal accounting controls intended to ensure that the company's stock buybacks were conducted in accordance with management authorizations.
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Six "insiders" of public companies settled charges with the SEC for failing to file reports on their securities holdings and transactions in a timely manner. Five public companies were also charged for contributing to the violations.
An investment adviser settled SEC charges for failure to (i) disclose conflicts of interest related to its ownership of special purpose acquisition companies and (ii) file timely and accurate reports.
The SEC Division of Corporation Finance and the Division of Investment Management encouraged issuers to allow shareholder proponents to present their proposals through "alternative means" during the 2020 and 2021 proxy seasons.
SEC Commissioner Hester M. Peirce challenged the SEC Investor Advisory Committee to consider the effects of COVID-19 on corporate disclosures and the proxy process.