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.
An SEC rule requiring exchanges to establish listing standards that require issuers to develop and implement clawback policies for erroneously awarded compensation will take effect on January 27, 2023.
The SEC adopted a rule requiring exchanges to establish listing standards that require issuers to develop and implement a policy on clawing back compensation that was awarded erroneously based on incorrect financial statements.