Regulator to examine impact on U.S. markets
The U.S. Securities and Exchange Commission is seeking public comment on possible revisions to its disclosure requirements for oil and gas reserves.The concept release poses questions on: whether the commission should revise the proved reserves definition, including the criteria used to assess and measure proved reserves; how new technologies impact the definition of proved reserves […]
Commission seeks investor input on proposal to improve mutual fund disclosure
The U.S. Securities and Exchange Commission reported that it has distributed US$31.5 million to more than 150,000 investors who were harmed by undisclosed mutual fund market timing in the MFS funds between 1999 and 2003.The distribution is the first in a series of disbursements from the Fair Fund that will return approximately US$306 million to […]
Rules would require investors receive clear, concise summary of key fund information
The U.S. Securities and Exchange Commission voted unanimously to approve rule amendments allowing financial statements from foreign private issuers to be accepted without reconciliation to U.S. GAAP only if they are prepared using International Financial Reporting Standards, as issued by the International Accounting Standards Board. The rule is intended to help American investors better analyze […]
Division of Trading and Markets better reflects unit’s responsibilities
Rule changes also would end unnecessary administrative burdens for filers
The program will help compliance chiefs ensure effective communication about compliance and maintain effective controls at their firms
Nortel will provide quarterly written reports detailing its progress in implementing its remediation plan