On December 22, 2020, the SEC proposed an amendment to Rule 144 under the Securities Act of 1933 that would revise the holding period determination for securities acquired upon the conversion or exchange of certain “market-adjustable securities”. This change should decrease the risk of unregistered distributions in connection with sales of those securities. In addition, the SEC is proposing updates and simplifications to the Form 144 filing requirements. Continue reading "SEC Requests Comment on Changes to Rule 144 and..." »

On December 16, 2020, the SEC adopted rules intended to achieve the statutory objective of increasing the transparency of payments to governments for the purpose of the commercial development of their oil, natural gas, and minerals by enforcing Section 13(q) of the Exchange Act. Added to the Exchange Act in 2010 by Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Section 13(q) instructed the SEC to issue final rules that require resource extraction issuers (entities such as oil, natural gas, and mining companies that are required to file reports under Section 13 or 15(d) of the Securities Exchange Act of 1934) annually to file a Form SD that includes information about payments that are made to the federal government or a foreign government related to the commercial development of oil, natural gas, or minerals. Continue reading "SEC Approves Final Rules for the Disclosure of..." »

On December 14, 2020, EDGAR Release 20.4 was released by the Securities and Exchange Commission. This release includes new exhibits types for Regulation A forms, a new checkbox on Forms 10-K, 20-F, and 40-F, and a number of changes that correspond to Release 33-10771.

Continue reading "SEC Releases EDGAR 20.4" »