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 American Investment Council urged FTC to withdraw its proposal to "comprehensive[ly] redesign" the premerger notification form. The Council argued that FTC lacks statutory authority to demand nearly all of the information that would be newly required.
The Managed Funds Association urged the FTC to withdraw its proposed amendments to "redesign" the premerger notification process.
A multinational telecommunications and internet service provider settled charges with the SEC for making materially misleading statements and omissions regarding "cost-of-revenue" in its annual, quarterly and current reports.
The CFTC Division of Market Oversight extended no-action relief from the ownership and control reporting requirements for reporting entities.