News & Insights

6 Results
March 31, 2015

The SEC issued a notice soliciting comments about the extension of information collected in Form 40-F, which is used by certain Canadian issuers to register a class of securities pursuant to Exchange Act Section 12(b) or (g), or as an annual report pursuant to Exchange Act Section 13(a) or 15(d). The notice was published in the Federal Register. Comments must be submitted to the Office of Management and Budget within 30 days of the publication of this notice. See: SEC Notice (80 FR 17129).

April 30, 2014

SEC Daniel Gallagher spoke about the SEC's revised statement on well-known seasoned issuer ("WKSI") waivers, which updated a policy on assessing the eligibility of issuers seeking to qualify as WKSIs under Securities Act Rule 405 ("Definitions of Terms"). Commissioner Gallagher stated that the touchstone of the analysis of the revised statement on WKSI waivers ("WKSI Statement") is the reliability of the issuer's current and future disclosure. In other words, if the misconduct that triggered the disqualification does not affect the issuer's current and future disclosure, then granting the WKSI

October 04, 2012

The Financial Reporting Manual - prepared by the staff of the Division of Corp. Fin. - has been updated and revised. The Manual is designed to be an internal reference document and to provide general guidance to Division staff. Click here to view manual and summary of changes (links externally to SEC website).

September 27, 2012

The SEC Division of Corporation Finance provided no-action relief to First Citizens Bancshares, Inc. pursuant to Exchange Act Rule 12h-3(b)(1)(i). The Division stated that it will not object in the case that First Citizens Bancshares, Inc. stops filing periodic and current reports under the Exchange Act under two circumstances. Cross-Reference(s): Exchange Act Rule 12h-3 (Suspension of Duty to File Reports Under Section 15(d)). View notice in full here (links externally to SEC website).

July 26, 2011

SEC Release No. 33-9245 / 34-64975 July 26, 2011 The SEC adopted new rules, as required by the Dodd-Frank Act, to remove credit ratings as eligibility criteria for issuers seeking to use “short forM” registration for their securities.In lieu of credit ratings, the new rules replace it with four tests that look at, among other things, the company’s amount of securities issuances and company’s regulatory filing history. Cross References SEC Press Release No. 2011-155 Securities Act Forms S-4 and F-4 Securities Act Rules 134, 138, 139,168 Dodd-Frank § 939A