The SEC charged five unregistered broker-dealers and four unregistered investment companies with deceptive pre-initial public offerings.
News & Insights
SEC Chief Accountant Paul Munter reminded issuers, preparers and auditors of their responsibilities to provide transparent, high-quality cash flow information for the protection of investors.
The SEC postponed the effective date of the "Share Repurchase Disclosure Modernization Rule," which requires issuers to provide additional information on the purpose of their repurchase programs. The SEC announced a stay of the "Repurchase Rule" in order to address Administrative Procedure Act deficiencies found by the Fifth Circuit Court of Appeals.
The SEC updated its Proxy Rules and Schedule 14A Manual of Publicly Available Telephone Interpretations and the 1999 Supplement. The SEC said that it is continuing a process of updating broader "Compliance and Disclosure Interpretations" relating to the proxy rules.
A broadband connectivity company settled charges with the SEC for failing to maintain internal accounting controls intended to ensure that the company's stock buybacks were conducted in accordance with management authorizations.