Newsfile SEC Press Digest

Recent News

  • SEC Issues Agenda for Dec. 1 Meeting of the Asset Management Advisory Committee

    [DATELINE] The Securities and Exchange Commission today released the agenda for the Dec. 1 meeting of the Asset Management Advisory Committee (AMAC).  AMAC was formed to provide the Commission with diverse perspectives on asset management and related advice and recommendations.The meeting will include a discussion of matters in the asset management industry relating to: (1) the Private Investments Subcommittee; (2) the ESG Subcommittee, including a discussion of potential recommendations from that Subcommittee; and (3) the Diversity and Inclusion Subcommittee, including a...

    2020-11-25 9:47 AM ET
  • SEC Investor Advisory Committee to Meet Remotely on Dec. 3

    Washington, D.C.--(Newsfile Corp. - November 24, 2020) - The Securities and Exchange Commission's Investor Advisory Committee will hold a public meeting on Dec. 3 by remote means. The meeting will begin at 10 a.m. ET, is open to the public via live webcast, and will be archived on the committee's website for later viewing.The committee will hold two panel discussions: a discussion regarding corporate disclosure during COVID-19, and a discussion regarding COVID-19 implications for the next proxy season. The full agenda...

    2020-11-24 4:52 PM ET
  • SEC Proposes Temporary Rules to Facilitate Measured Participation by Certain "Platform Workers" in Compensatory Offerings Under Rule 701 and Form S-8

    Washington, D.C.--(Newsfile Corp. - November 24, 2020) - The Securities and Exchange Commission today voted to propose rules that, on a temporary basis and subject to percentage limits (no more than 15% of annual compensation), dollar limits (no more than $75,000 in three years) and other conditions, would permit an issuer provide equity compensation to certain "platform workers" who provide services available through the issuer's technology-based platform or system.The proposed rules reflect the significant evolution that has taken place in the...

    2020-11-24 12:08 PM ET
  • SEC Proposes Amendments to Modernize Framework for Securities Offerings and Sales to Workers

    Washington D.C.--(Newsfile Corp. - November 24, 2020) - The Securities and Exchange Commission today announced that it has voted to propose amendments to Securities Act Rule 701, which provides an exemption from registration for the issuance of compensatory securities by non-reporting issuers, and Form S-8, the Securities Act registration statement for compensatory offerings by reporting issuers. Additionally, in a companion release, the Commission also proposed rules to permit, on a temporary basis and subject to certain conditions, an issuer to provide...

    2020-11-24 11:52 AM ET
  • SEC Charges E-Commerce Startup and CEO With Defrauding Investors

    Washington, D.C.--(Newsfile Corp. - November 23, 2020) - The Securities and Exchange Commission today charged a San Francisco-based e-commerce startup and its chief executive officer with misleading investors about purported contracts with well-known consumer brands.According to the SEC's complaint, from 2018 to 2020, Andrew J. Chapin, the founder and CEO of Benja Inc., told investors that Benja was a successful online advertising platform that generated millions of dollars in revenue from popular consumer clothing brands and retailers. In reality, as the...

    2020-11-23 6:17 PM ET
  • SEC Issues Statement on European Central Counterparties Seeking to Register or Request Exemptions From the SEC

    Washington, D.C.--(Newsfile Corp. - November 23, 2020) - The Securities and Exchange Commission today issued a Policy Statement and Guidance focused on central counterparties (CCPs) authorized under the European Markets Infrastructure Regulation (EMIR) that may seek to access and operate in the U.S. securities markets. The Statement provides transparency into the Commission’s processes and highlights efficient ways that CCPs based in the European Union (EU) can register as a clearing agency or request exemptions from certain requirements under the...

    2020-11-23 5:21 PM ET
  • SEC Adopts Amendments to Modernize and Enhance Management's Discussion and Analysis and other Financial Disclosures

    Washington, D.C.--(Newsfile Corp. - November 19, 2020) - The Securities and Exchange Commission today announced that it has voted to adopt amendments that will modernize, simplify and enhance certain financial disclosure requirements in Regulation S-K. The amendments are intended to enhance the focus of financial disclosures on material information for the benefit of investors, while simplifying compliance efforts for registrants."Today's rules will improve the quality and accessibility of the disclosure that companies provide their investors, including, importantly giving investors...

    2020-11-19 3:07 PM ET
  • Lourdes Caballes and Michael Rufino Named Associate Directors of OCIE's Broker-Dealer Examination Program in the SEC's New York Regional Office

    Washington, D.C.--(Newsfile Corp. - November 19, 2020) - The Securities and Exchange Commission today announced that Lourdes Caballes and Michael Rufino have been named Associate Directors of the Office of Compliance Inspections and Examinations (OCIE) Broker-Dealer Examination Program in the New York Regional Office. Together, Ms. Caballes and Mr. Rufino will oversee a staff of nearly 80 accountants, examiners and attorneys responsible for inspections of SEC-registered broker-dealers in New York and New Jersey. Ms. Caballes and Mr. Rufino succeed Robert Sollazzo who retired...

    2020-11-19 2:08 PM ET