A bank settled parallel SEC and Federal Reserve Board charges for (i) extending lines of credit to affiliates of the bank's CEO without the majority approval of its board, (ii) failing to disclose related party loans in annual reports and proxy statements, and (iii) issuing materially misleading statements.
News & Insights
In a report on climate-related financial risk, the Financial Stability Oversight Council identified climate change as an emerging and increasing threat to U.S. financial stability.
The SEC charged a media and entertainment company and several of its principals with fraud in a scheme to solicit investments using "vastly inflated" historical annual revenues.
The SEC Division of Corporation Finance updated its Regulation S-K Compliance and Disclosure Interpretations to include guidance on the new pay versus performance disclosure rules.
An online transportation networking company settled charges with the SEC for failing to disclose a "related person" transaction in which one of its directors assisted in the sale of a large block of private shares worth $424 million prior to the company's IPO.