SEC Imposes Over $3.8 Million in Penalties for Violations of Shareholder Disclosure Rules

SEC Imposes Over $3.8 Million in Penalties for Violations of Shareholder Disclosure Rules

Regulatory Insights, Shareholder Disclosures, Uncategorised

On September 25, 2024, the Securities and Exchange Commission (SEC) announced settled charges against 23 entities and individuals for failing to timely report their holdings and transactions in public company stocks. This enforcement action, focused on Schedules 13D, 13G, and Forms 3, 4, and 5, underscores the SEC’s commitment to enforcing shareholder disclosure rules and maintaining transparency in financial markets.

Among the entities penalised are some of the largest and most recognisable names in the corporate world, including Alphabet and Goldman Sachs. The total fines levied amount to more than $3.8 million.

New FSC Updates for Shareholders in Bulgaria

Bulgaria: FSC Updates Significant Shareholding Notification Form and Submission Process

Regulatory Insights, Shareholder Disclosures

As of September 12th, 2024, the Financial Supervision Commission (FSC) in Bulgaria has introduced important updates to the Significant Shareholding Notification Form (as per Article 145). This form is a legal requirement for shareholders who cross specific thresholds – 5% or multiples of 5% – of voting rights in publicly traded companies on regulated markets.

These recent changes reflect the FSC’s ongoing efforts to streamline reporting processes and ensure greater clarity and transparency for market participants. Let’s break down the key updates and explore how they affect shareholders.

SEC Amendments to 13F

SEC Amendments to 13F

Regulatory Insights

On 23rd June 2022, the Securities and Exchange Commission (SEC) adopted amendments to modernize Form 13F and enhance the information provided. The amendments are intended to promote efficiency, transparency, and operational resiliency by modernizing how information is filed or submitted to the Commission and disclosed to the public.