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Oct 8, 2024 | 
natlawreview.com | Eric R. Markus
On September 25, 2024, the Securities and Exchange Commission (the SEC) announced that it had instituted and settled enforcement actions under Section 13(d), Section 13(g) and Section 16(a) of the Securities Exchange Act of 1934 (as amended, the Exchange Act).
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Oct 8, 2024 | 
lexology.com | Eric R. Markus |Scott H. Kimpel |Kate Saltz |James Davidson
What HappenedOn September 25, 2024, the Securities and Exchange Commission (the SEC) announced that it had instituted and settled enforcement actions under Section 13(d), Section 13(g) and Section 16(a) of the Securities Exchange Act of 1934 (as amended, the Exchange Act).
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Aug 8, 2024 | 
lexology.com | Sevren Gourley |Leslie W. Kostyshak |Eric R. Markus
What Happened:On July 23, 2024, the Committee on Foreign Investment in the United States (CFIUS) released its annual report for calendar year 2023 (the Report). The Report provides to the public the third full year of data regarding CFIUS activities since the implementation of the 2020 rule changes mandated by the Foreign Investment Risk Review Modernization Act (FIRRMA) and discloses a number of trends and developments regarding CFIUS review of foreign investment in the United States.
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Mar 26, 2024 | 
natlawreview.com | Eric R. Markus
What Happened: On March 14, 2024, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a settlement (the Settlement) with EFG International AG, a global private banking group based in Switzerland with many global subsidiaries (collectively, the Manager), regarding violations of OFAC rules alleged to have occurred as a result of the Manager’s buying, selling and, in many cases, merely holding US securities on behalf of persons sanctioned by OFAC.
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Mar 26, 2024 | 
natlawreview.com | Lisa C. Lautier |Eric R. Markus |Whistleblower Law |Lynn L. Bergeson
The tidal wave of loan maturities expected in 2024 will put pressure on lenders and borrowers, which will spill over to the transactional sphere, putting pressure on buyers and sellers to come to weighed and balanced solutions. Without a true understanding of the interests of the other party and a willingness to find a weighed and balanced solution, this will lead to scenarios where no amicable solution can be found.
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Mar 26, 2024 | 
natlawreview.com | Eric R. Markus
What HappenedOn March 1, 2024, the Securities and Exchange Commission (the SEC) announced that it had instituted and settled an enforcement action against investment adviser HG Vora Capital Management LLC (HG Vora) for its failure to make timely ownership disclosures on Schedule 13D. Without admitting or denying the SEC’s primary findings, HG Vora agreed to pay a $950,000 civil money penalty to settle the matter.
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Mar 25, 2024 | 
lexology.com | Eric R. Markus |Jordan G. Sisco |Marissa Rogers |Scott H. Kimpel
What HappenedOn March 1, 2024, the Securities and Exchange Commission (the SEC) announced that it had instituted and settled an enforcement action against investment adviser HG Vora Capital Management LLC (HG Vora) for its failure to make timely ownership disclosures on Schedule 13D. Without admitting or denying the SEC’s primary findings, HG Vora agreed to pay a $950,000 civil money penalty to settle the matter.
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Oct 26, 2023 | 
lexology.com | Scott H. Kimpel |Eric R. Markus |Hannah Flint |Marissa Rogers |Jordan G. Sisco
What Happened: On October 10, 2023, the Securities and Exchange Commission (SEC) voted 4 to 1 to adopt amendments to the rules relating to Schedule 13D and Schedule 13G (Regulation 13D-G) under the Securities Exchange Act of 1934, as amended (Exchange Act).1 The adoption of these amendments ends a process that began on February 10, 2022, when the SEC proposed sweeping changes to Regulation 13D-G.2 The Bottom Line: The amendments accelerate the filing deadlines for Schedule 13D and Schedule...
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Oct 16, 2023 | 
lexology.com | James Davidson |Kate Saltz |Scott H. Kimpel |Eric R. Markus
On September 27, 2023, the Securities and Exchange Commission (the “SEC”) announced settled enforcement actions against six officers, directors and major shareholders of various public companies for allegedly failing to timely report information about their holdings and transactions in company stock, and simultaneously announced settled actions against five public companies for allegedly causing these insiders’ filing failures or for failing to report their insiders’ filing delinquencies.
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Jul 27, 2023 | 
lexology.com | Eric R. Markus |Sevren Gourley
What HappenedAs we pass the half-way point of 2023, it is worthwhile to note several developments relating to the Committee on Foreign Investment in the United States (CFIUS or the Committee) from the very end of 2022 through June 2023. Several of these actions illustrate how CFIUS has increased its focus on clean energy, biotechnology, and supply chain issues following the issuance of Executive Order 14083 (EO 14083).
