Dodd-Frank.com

Developments in Securities Regulation, Corporate Governance, Capital Markets, M&A and Other Topics of Interest

SEC Sanctions Issuer for Misrepresentations Regarding Loan Covenant Compliance

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Omega Protein Corporation manufactured and distributed omega-3 fish oils and fish meal products. Omega financed its operations through federal government programs under Title XI of the Merchant Marine Act of 1936.  The Title XI loans were administered by the National Marine Fisheries Service, or NMFS.  NMFS regularly required that Omega’s... Read More

Topics: Public Companies and Securities

SEC Clarifies Investment Advisers’ Proxy Voting Responsibilities and Application of Proxy Rules to Voting Advice

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The SEC provided guidance to assist investment advisers in fulfilling their proxy voting responsibilities. The guidance discusses, among other matters, the ability of investment advisers to establish a variety of different voting arrangements with their clients and matters they should consider when they use the services of a proxy advisory... Read More

Topics: Investment Advisers, Public Companies and Securities

SEC Charges Issuer for Reg FD Violation for Selective Disclosure to Analysts

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The SEC charged TherapeuticsMD Inc., a pharmaceutical company headquartered in Boca Raton, Florida, with violations of Regulation FD based on its sharing of material, nonpublic information with sell-side research analysts without also disclosing the same information to the public.  No individuals were charged.  The company did not admit or deny... Read More

Topics: Litigation, Public Companies and Securities

FASB Proposes to Delay Effective Dates for Private and Certain Public Companies

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The Financial Accounting Standards Board issued a proposed Accounting Standards Update, or ASU, that would grant private companies, not-for-profit organizations, and SEC registrants classified as smaller reporting companies additional time to implement FASB standards. For smaller reporting companies this would include the standard on current expected credit losses (CECL), and... Read More

Topics: Public Companies and Securities