Search Results for keywords:"Beneficial Ownership"

The Securities and Exchange Commission (SEC) has requested an extension for a previously approved data collection related to Form 4 filings under the Paperwork Reduction Act. This form requires insiders, such as directors or officers who own more than 10% of a registered equity security, to report changes in their ownership. Each year, about 186,052 insiders file Form 4, which takes about 0.5 hours to prepare, totaling approximately 93,026 burden hours annually. The public can comment on this request from December 10, 2024, to January 9, 2025, through the provided online link or email address.

The United States Department of Justice filed a complaint against XCL Resources Holdings, Verdun Oil Company II, and EP Energy, alleging that they violated the Hart-Scott-Rodino Act by assuming control over EP Energy before completing the required regulatory waiting period. They were accused of illegal coordination, including halting drilling activities and sharing sensitive information, which caused supply shortages and market disruptions. To resolve these allegations, the companies agreed to pay a civil penalty totaling over $5.6 million and implement compliance measures to prevent future violations. The court will oversee the agreement to ensure it aligns with public interest standards.