News & Analysis as of October 18, 2024

National Defense Authorization Act › Securities Exchange Act of 1934

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The National Defense Authorization Act is a United States federal statute enacted each year to specify the budget and expenditures of the Department of Defense. The NDAA identifies which agencies are responsible for national defense, provides funding for those agencies and includes instructions on proper use of the funds. less -

Foreign Extortion Prevention Act (FEPA)

King & Spalding on 1/5/2024

How the New Law Creates Legal Risks and Opportunities for International Businesses - On December 22, 2023, President Biden signed into law the 2024 National Defense Authorization Act (NDAA), which will give the U.S....more

Canadian Dual-Listed Company Insiders Remain Exempt from U.S. Short-Swing Profit and Insider Reporting Rules

Davies Ward Phillips & Vineberg LLP on 12/18/2023

In a positive development since our earlier bulletin, the U.S. House and Senate have decided to retain the exemptions from obligations imposed under section 16 of the Securities Exchange Act of 1934 that are relied upon by...more

Foreign Private Issuers Escape Potential Section 16 Reporting Obligations … For Now

Troutman Pepper on 12/15/2023

Foreign private issuers (FPIs) may have dodged a bullet on December 7 after Congress scrapped a proposal to impose the reporting obligations under Section 16 of the Exchange Act of 1934, as amended (Exchange Act), on FPIs...more

Wealth Management Update - December 2023

Proskauer Rose LLP on 12/12/2023

Shining a Light on the Corporate Transparency Act: FinCEN’s Rules for Beneficial Ownership Reporting - On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering...more

New Amendments and Pending Legislation Impact SEC Beneficial Ownership Reporting: What Foreign Private Issuers Need to Know

Troutman Pepper on 12/6/2023

On November 7, the U.S. Securities and Exchange Commission (SEC) published amendments to the beneficial ownership reporting rules under Sections 13D and 13G of the Securities Exchange Act of 1934 (the Exchange Act). These...more

Senate Proposes to Extend Section 16 Requirements to Foreign Private Issuers

A&O Shearman on 9/26/2023

The U.S. Senate recently passed the National Defense Authorization Act for Fiscal Year 2024 (the “NDAA”), which, if enacted, would subject insiders (i.e., directors, executive officers and greater than 10% shareholders) of...more

Corporate Transparency Act and Proposed Regulations: The Start of Applicability Is Coming upon Us Quickly

Pillsbury Winthrop Shaw Pittman LLP on 7/7/2022

AML (Anti Money Laundering) reforms led to the Corporate Transparency Act. On January 1, 2021, Congress enacted the National Defense Authorization Act for Fiscal Year 2021 (the NDAA), after overriding a presidential veto....more

Reviving the Holiday Gathering This Year? Avoid Adding Insider Trading Liability to the Mix.

King & Spalding on 12/21/2021

As we each cautiously approach the holidays with our own versions of in-person holiday parties and family gatherings, and with many of us now exploring the “hybrid” working environment, we are here to remind you that insider...more

Congress Amends Exchange Act Of 1934 To Address Disgorgement Penalties In Defense Spending Bill

Polsinelli on 2/4/2021

The New Year is still young, but major changes are already afoot in securities enforcement as Congress amended the Securities Exchange Act of 1934 (“Exchange Act”) on January 1, 2021. It was easy to miss these changes to the...more

Four Things You Need to Know About the Extended Limitations Period for SEC Disgorgement

Winstead PC on 1/7/2021

The Securities and Exchange Commission’s disgorgement powers have made legal headlines a couple of times over the last few years – most notably, with the U.S. Supreme Court’s decisions in Kokesh v. SEC, 137 S. Ct. 1635 (2017)...more

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National Defense Authorization Act › Securities Exchange Act of 1934

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