SEC amendments to accelerate filing deadlines for Schedule 13D and Schedule 13G beneficial ownership reports, expand reporting obligations to include acquisition of derivative securities and clarify standards for groups that would be subject to reporting obligations
As part of a settlement arrangement, BlockFi agreed to pay a $100 million penalty for selling its crypto-lending product, BlockFi Yield, without registering it as a security. In addition to the penalty, BlockFi intends to register BlockFi Yield as a security.
Comments are due by March 21, 2022 on an SEC proposal to amend Form PF. The Form is used for reporting by certain SEC-registered investment advisers to private funds, and the SEC is proposing to amend its insider trading rules, particularly SEA Rule 10b5-1
On February 10, 2022, the SEC proposed various amendments to Regulation 13D-G to modernize the beneficial ownership reporting requirements. These proposed rules requires more timely disclosure while minimizing the burden on the reporting shareholders.
On February 10, 2022, the SEC announced two proposed amendments to its whistleblower program rules. Chair Gensler noted that the amendments would help ensure whistleblowers are both incentivized and appropriately rewarded for reporting potential violations of the law.