At a hearing before the Senate Appropriations Subcommittee on Financial Services, Senator Joe Manchin (D-WV) challenged SEC Chair Gary Gensler on his intention to move forward on the proposed Climate Disclosure rule.
News & Insights
A special purpose acquisition company settled SEC charges for making false and misleading statements in connection with a planned merger with social media company, Trump Media & Technology Group.
In testimony before the House Subcommittee on Capital Markets, SEC Division of Corporate Finance Director Erik F. Gerding reviewed efforts to ensure that proper disclosures and guidance were available to market participants.
The SEC charged a company with disclosure violations and misrepresentations on SEC reporting forms related to a merger with a special purpose acquisition company. The misrepresentations concerned estimated warranty liability resulting from insufficient internal accounting controls.
In separate actions, an investment adviser settled SEC charges for (i) failing to disclose material information as to distributable income in a closed-end fund, and (ii) failing to waive certain advisory fees as required by an agreement with a mutual fund.