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.
At an SEC Investor Advisory Committee meeting, regulators, academics and market participants examined (i) the disparity in growth between the private and public markets, (ii) oversight of investment advisers and related custody rules, and (iii) a recent rule proposal regarding open-end fund liquidity risk management and swing pricing.
By a vote of 400 to 2, the House of Representatives passed a bill that would expand the powers of the Committee on Foreign Investment in the United States and reform the export control regime.