On October 15, 2021, the SEC’s Office of the Whistleblower announced multi-million dollar awards to two whistleblowers who provided the SEC with information that assisted the agency in bringing a successful enforcement action.
The SEC announced proposed amendments to Form N-PX that expand the information that registered funds must disclose about their proxy votes, and would also impose Form N-PX reporting requirements on Form 13F filers.
The New York Stock Exchange proposed an amendment to its rule governing the review and approval of related party transactions that would fully align the rule with the SEC's related party transactions disclosure rules and the historical practice of many NYSE-listed companies.
Gary Gensler of the SEC remarked that capital markets are witnessing an unprecedented surge in non-traditional IPOs by special purpose acquisition companies, or SPACs. The SEC has already received 700 S-1 filings in 2021, compared to 13 such filings in all of 2016.
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Under Armour, Inc. Settles Securities and Exchange Commission Enforcement Action Targeting Undisclosed Practice of Pulling Sales Forward to Obscure Gaps in Projected Quarterly Revenues Friday, June 4, 2021
On May 3, 2021, the Securities Exchange Commission ( S.E.C. ) announced that sports apparel heavyweight Under Armour, Inc. (“Under Armour”) will pay a $9 million dollar penalty to the S.E.C. to settle an enforcement action for alleged antifraud violations of the Securities Act of 1933 as well as reporting violations under federal securities laws following charges that Under Armour misled investors regarding its annual revenue growth and failed to disclose uncertainties in its future revenue projections to investors.