The U.S. Securities and Exchange Commission yesterday gave unanimous final approval to changes to its “best price” rule concerning tender offers. The “best price” rule requires that all shareholders are paid the same price in a tender offer. The changes, which were made necessary by conflicting court interpretations, make clear that compensation for services that […]
Lipshutz, former Enron vp, simultaneously settles charges
Awards three new contracts aimed at creating real-time interactive search tool
Regulator says firms charged advisory fees based on methods that did not comply with the rules
Alleges promoters fraudulently raised US$2.2 million
SEC also files unsettled civil injunctive action against several former Prudential registered reps
Many funds plan to retain compliance practices
Regulator pushes back initial compliance date
But U.S. regulator is moving forward on new proposals, including a new anti-fraud rule
Stewart also agrees to five-year ban from serving as a director of a public company