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.
In a new report, the Congressional Research Service summarized two companion bills (one in the House and one in the Senate) that would prohibit financial intermediaries and issuers from mandating the use of arbitration to resolve disputes.
The U.S. House Committee on Financial Services marked up and passed bills on special purpose acquisition companies, broker-dealer and investment adviser mandatory arbitration clauses in customer agreements, and hiring practices.