The SEC set an effective date of February 5, 2024 for final rules on the filing of certain beneficial ownership reports and guidance. The SEC also outlined compliance date requirements. The SEC final rules and guidance were published in the Federal Register.
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The SEC amended rules on the filing of certain beneficial ownership reports and provided guidance on (i) disclosure requirements with respect to derivative securities and (ii) the legal standards applicable to certain common types of shareholder engagement activities.
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.
The SEC extended the comment period on proposed amendments to rules governing beneficial ownership reporting until June 27, 2023. The SEC provided a supplemental analysis on the proposal's economic impact.
An investment adviser settled SEC charges for conflicts of interest, material misstatements and omissions, supervision violations and reporting violations related to the adviser's activities with special purpose acquisition companies.