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Corporate / Securities Law News

News on Corporate / Securities Law continually updated from thousands of sources around the net.

2 hrs ago | AmericanBankingNews.com

Century Bancorp major shareholder Purchases $40,612 in Stock

Century Bancorp major shareholder James J. Filler purchased 1,167 shares of the company's stock on the open market in a transaction that occurred on Monday, September 15th. The stock was purchased at an average cost of $34.80 per share, with a total value of $40,611.60.

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Related Topix: Securities and Exchange Commission, Law

5 hrs ago | JD Supra

M&A Broker Exemption Bill Resurrects Financial Statement Replaced in 1988

Last week, the North American Securities Administrators Association withdrew its support for S. 1923 which, if enacted, would exempt "M&A brokers" from the broker registration requirements of the Securities Exchange Act of 1934. In this letter to Senators Joe Manchin and David Vitter, Arkansas Securities Commissioner A. Heath Abshure blamed NASAA's change in position on the "inexplicable removal from the bill of a basic and critical provision disqualifying 'bad actors' from qualifying for the registration exemption established by the bill .

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Related Topix: Law

7 hrs ago | JD Supra

SEC Uses Data Analytics to Identify and Punish Late Form Filers

Can merely late filing of "routine" forms get you in trouble with the SEC? Yes, at least if it happens too often. On Wednesday the SEC announced charges and financial penalties totaling $2.6 million against 28 officers, directors, and major shareholders for repeated late filing of SEC forms reporting holdings and transactions in company stock, and six publicly traded companies for contributing to filing failures by insiders or failing to report their insiders' filing delinquencies.

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Related Topix: Law

8 hrs ago | Business Journal

Local pizza chain &pizza raises $2 million from investors

Fast-casual pizza hot spot &pizza looks to be getting a lot hotter in the coming months.

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Related Topix: Securities and Exchange Commission, Law

9 hrs ago | JD Supra

Does Your Company's "Inadequate Compliance Program" Violate Securities Laws?

In a recent matter before the SEC, settlement of an FCPA claim with Smith & Wesson has raised some worrisome new issues for compliance officers. This settlement is noteworthy for two reasons: A determination by the SEC that a company has an "inadequate compliance program" may give rise to a new SEC claim for violation of the Securities Exchange Act.

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Related Topix: Law

12 hrs ago | BayStreet.ca

MDHI Files with Securities and Exchange Commission

KING OF PRUSSIA, PA / ACCESSWIRE / September 15, 2014 / Medical Alarm Concepts Holding, Inc. , today announced the completion and filing of its 10-Q for the quarter ending September 30, 2013. The work was conducted by Paritz & Company, P.A. and the filing of Form 10-Q with the Securities & Exchange Commission was for the fiscal quarter ending Sept 30, 2013.

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Related Topix: Securities and Exchange Commission, Law, King of Prussia, PA

14 hrs ago | AmericanBankingNews.com

Medbox major shareholder Unloads $21,580 in Stock

Medbox major shareholder P Vincent Mehdizadeh unloaded 2,000 shares of Medbox stock on the open market in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $10.79, for a total value of $21,580.00.

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Related Topix: Securities and Exchange Commission, Law

16 hrs ago | Bangkok Post

SME stock trading to begin in Q4

A stock-trading board for shares of small and medium-sized enterprises will be launched in the fourth quarter, with settlement to be made only in cash. The Securities and Exchange Commission and the Stock Exchange of Thailand are discussing rules for the new SME board, said SEC secretary general Vorapol Socatiyanurak.

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Related Topix: Securities and Exchange Commission, Law

17 hrs ago | Hispanic Business

Nabors Announces the Repurchase of approximately $250 million of its Common Shares

Chairman, President & CEO, commented, 'I am pleased that we have had the opportunity to buy back a significant block of our shares at a compelling price. The transaction is accretive to current earnings per share and is consistent with our stated goal of increasing returns to our long-term shareholders.

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Related Topix: Law

Sun Sep 14, 2014

Pensions & Investments

SEC rule could push trading costs higher

The Securities and Exchange Commission's latest salvo in the war against market instability could mean higher trading fees for money managers and some smaller equity trading venues curtailing operations or shutting down completely.

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Related Topix: Securities and Exchange Commission, Law

Sat Sep 13, 2014

Salt Lake Tribune

Julie Jason: Two examples of conflict of interest

An interesting case was reported recently by the Securities and Exchange Commission that gives a good example of the type of conflict of interest that might arise between a financial firm and its clients. The case had to do with a Houston-based firm that sold mutual funds to its clients, with a payment coming back to the firm from another party.

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Related Topix: Securities and Exchange Commission, Law

Truthdig

Shareholders' Quest for More Transparency

If you own a share of a company, how much information about the company are you entitled to? That is the question embedded in the debate over a proposed Securities and Exchange Commission rule that would force publicly traded companies to disclose their political spending to their shareholders. As of this month, a 2011 petition to the SEC proposing the rule has received more than 1 million comments - most of them in favor of the mandate.

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Related Topix: Securities and Exchange Commission, Law, US News, Liberal Political News

OpEdNews

5 Reasons The SEC's Executive-Pay Rules Matter -- And 5 Ways to Use Them

Two little-known rules on corporate reporting of executive pay are currently being reviewed by the Securities and Exchange Commission. While they have received almost no press coverage, these rules could have far-reaching consequences for our nation's economy and the future of the middle class.

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Related Topix: Securities and Exchange Commission, US News, Liberal Political News

NewsTalk 1530 KFBK

Hewlett-Packard Pleads Guilty to Bribery

Hewlett-Packard has pleaded guilty to felony charges that former employees bribed Russian government officials for a contract, and the company has been fined $58.7 million. The Securities and Exchange Commission says HP's Russian subsidiary admitted violating the Foreign Corrupt Practices Act in a Northern California court Thursday.

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Related Topix: Hewlett Packard, HP, Hewlett-Packard, Computers, Securities and Exchange Commission, Law

Wall Street Journal

To Be Clear, SEC Reviewers Want Filings in Plain English, Period

The Securities and Exchange Commission headquarters in Washington, where lawyers and accountants review several thousand of the more than half-million documents that companies file with the agency every year. After combing through a 19,974-word filing for a securities offering, Securities and Exchange Commission senior counsel Catherine Gordon had some guidance for the company that drafted it.

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Related Topix: Securities and Exchange Commission, Law

Fri Sep 12, 2014

Hispanic Business

Geltech Solutions, Inc. Files (8-K) Disclosing Unregistered Sale of Equity Securities

The shares of common stock and warrants were issued without registration under the Securities Act of 1933 in reliance upon the exemption provided in Section 4 and Rule 506 thereunder.

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Related Topix: Law

Investor's Business Daily

WhiteWave Foods Announces Pricing of $500 million of 5.375% Senior...

The WhiteWave Foods Company announced today the pricing of $500 million in aggregate principal amount of 5.375% senior notes due 2022, through underwriters led by J.P. Morgan Securities LLC. The offering is being conducted pursuant to a registration statement and related preliminary prospectus supplement filed with the Securities and Exchange Commission. The notes mature on October 1, 2022.

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Related Topix: Securities and Exchange Commission, Law

JD Supra

SEC Issues Stern Reminder for Timely Filing of Beneficial Ownership Reports

After years of little enforcement action, the Securities and Exchange Commission issued a press release yesterday announcing charges against 28 officers, directors, or major shareholders for violating federal securities laws requiring prompt reporting of information regarding their holdings and transactions in company stock. Six publicly traded companies were also charged for contributing to filing failures by insiders or failing to report their insiders' filing delinquencies.

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Related Topix: Securities and Exchange Commission, Law

JD Supra

Did the Summer Shine any Light on Dodd-Frank Whistleblower Land?

The summer saw a significant new development in the Securities and Exchange Commission's whistleblower bounty program but failed to see any development on obtaining clarification as to the reach of the Dodd-Frank Act's whistleblower protection provision. While the SEC was busy finalizing the first-ever award to an employee working in the area of compliance, the courts were intent on taking a break from dealing with attempts by whistleblowing employees, and their SEC amici, to achieve clarity on the issue of whether reporting internally, but not to the SEC, is sufficient to fall within the protections of the Dodd-Frank Act's anti-retaliation provision.

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Related Topix: Securities and Exchange Commission

JD Supra

CFTC Issues Exemptive Relief to Harmonize with JOBS Act Amendments to Regulation D and Rule 144A

The U.S. Commodity Futures Trading Commission issued an Exemptive Letter on September 8, 2014 providing that an issuer relying on Rule 506 of Regulation D and resellers relying on Rule 144A, permitting general solicitation or general advertising, may still rely on the exemptions for commodity pool operators set forth in Regulation 4.7 and Regulation 4.13 . The Exemptive Letter seeks to resolve discrepancies between the permission to engage in general solicitations under Rule 506 and Rule 144A provided that purchasers in such transactions meet certain criteria, and the provisions of Regulations 4.7 and 4.13 , which would prohibit general solicitations as a condition to qualifying for the exemptions.

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Related Topix: Law, Securities and Exchange Commission

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