On August 26, the SEC adopted two amendments to the rules governing its whistleblower program, which are covered under Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Section 21F of the Securities Exchange Act of 1934 (Exchange Act). Section 21F allows the SEC to pay a monetary award to eligible whistleblowers who voluntarily provide the SEC with information regarding a violation of the federal securities laws which then leads to a successful enforcement action or a non-SEC action. The first amendment expanded the scope of actions for which whistleblowers may receive SEC payment. Specifically, the amendment provides for additional circumstances for which a non-SEC action may qualify for whistleblower payment, eliminating some of the previous caveats that the SEC is to have a direct and relevant connection to the action. The final rule provides more detail on the types of related actions covered under the rule. The second amendment clarifies that it is within the SEC’s authority to consider the dollar amount of a potential award when determining an award amount for the purpose of increasing, not decreasing, the award amount. The fact sheet for these amendments can be found here.
On August 26, the SEC announced that the fees that public companies and other issuers (including mutual funds) pay to register their securities with the SEC will increase nearly 19% from...
; ; Iran's Parliament Speaker, Mohammed Bagher Ghalibaf, has warned Donald Trump that Tehran will close the Strait of Hormuz if the US continues its naval blockade, shortly after the US President ...