On November 14, 2023, the U.S. Securities and Exchange Commission (SEC), with two Commissioners dissenting, announced settled charges against Charter Communications Inc. (Charter) for violating internal accounting controls requirements relating to its share repurchase programs. Charter will pay a $25 million penalty to settle the SEC’s claims.Continue Reading Charter Communications Fined $25 Million for Violating Stock Buyback Related Internal Accounting Controls Requirements
Rule 10b5-1
Corp Fin Issues Three New CDIs on Rule 10b5-1 Amendments and Related Disclosure Requirements
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Posted in SEC Reporting
On May 25, 2023, the U.S. Securities and Exchange Commission’s Division of Corporation Finance (Corp Fin) issued three new Compliance and Disclosure Interpretations (CDIs) relating to Rule 10b5-1 and related disclosure requirements. The first two CDIs provide clarification on the transition timing for compliance with the new quarterly and annual…
Continue Reading Corp Fin Issues Three New CDIs on Rule 10b5-1 Amendments and Related Disclosure RequirementsRule 10b5-1 Amendments Spare Issuer Accelerated Share Repurchases (ASRs)
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Posted in Securities Laws
Our timely client alert discusses the impact (or lack thereof) of impending amendments to Rule 10b5-1 on issuer structured share buy-back arrangements, such as accelerated share repurchases (ASRs). Final Rule 10b5-1 amendments, discussed comprehensively in our previous client alert, become effective on February 27, 2023. Stay tuned for further…
Continue Reading Rule 10b5-1 Amendments Spare Issuer Accelerated Share Repurchases (ASRs)