SEC Division of Corporation Finance Acting Chair John Coates and SEC Acting Chief Accountant Paul Munter highlighted potential errors in accounting for warrants issued by Special Purpose Acquisition Companies.
The SEC Division of Examinations observed compliance deficiencies related to environmental, social and governance products and services offered by investment advisers, registered investment companies and pooled investment vehicles.
The SEC Division of Corporation Finance and the Division of Investment Management encouraged issuers to allow shareholder proponents to present their proposals through "alternative means" during the 2020 and 2021 proxy seasons.
The SEC published in the Federal Register amendments to Regulation NMS that expand national market system information required to be collected, consolidated and disseminated "with respect to quotations for, and transactions in, national market system stocks."
SEC Division of Corporation Finance Acting Director John Coates argued against claims by commentators that Special Purpose Acquisition Companies face lesser securities law liability in the context of a "de-SPAC" transaction than traditional IPOs.
The SEC published in the Federal Register an interim final rule amending Forms 20-F, 40-F, 10-K and N-CSR for registrants required to comply with disclosure and submission requirements under the Holding Foreign Companies Accountable Act.
The SEC Division of Corporation Finance staff issued guidance on accounting, financial reporting and governance issues that private operating companies should consider prior to undertaking a "business combination" with a special purpose acquisition company.