On Feb. 6, 2024, the US Securities and Exchange Commission ("SEC" or "Commission") adopted new Rules 3a5‑4 and 3a44‑2 (together, "Final Rules").
On February 10, 2022, the SEC proposed amendments to its rules governing beneficial ownership reporting that would (1) accelerate the filing deadlines for beneficial ownership reports on Schedule 13D and Schedule 13G, .
On February 10, 2022, the Securities and Exchange Commission (the "SEC") proposed substantial amendments to the reporting regime for beneficial owners of greater than 5% in public companies.
Monday, July 12, 2021
As part of its continued enforcement focus on broker-dealer registration, the U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) recently settled an action with electronic order entry and management system Neovest, Inc. (“Neovest”) for engaging in “broker” activity and receiving “broker” compensation without being registered as a broker-dealer pursuant to Section 15(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
1 Both the settlement and the strong dissent from SEC Commissioner Hester Peirce leave market participants without meaningful guidance on what constitutes “broker” activity requiring registration. Technology providers that perform functions that could easily be characterized as facilitating