Search Results for agency_names:"Investment Company Act Release No. 35487

The Securities and Exchange Commission (SEC) has approved a new rule proposed by NYSE American LLC to strengthen its listing standards for companies that conduct reverse stock splits. According to the rule, a company will face immediate suspension and delisting if it has executed one or more reverse stock splits with a cumulative ratio of 200 shares or more to one in the past two years, or if its reverse stock split makes it fall below existing listing requirements. The SEC believes this measure will help protect investors by ensuring that companies with financial difficulties do not unduly remain on the exchange by manipulating their stock prices through reverse stock splits. Companies affected by this rule still have the opportunity to challenge delisting decisions.

The Securities and Exchange Commission (SEC) has adopted a final rule under the Securities Exchange Act of 1934 to improve transparency in the extraction industry. This rule requires companies involved in the extraction of oil, natural gas, or minerals to report payments made to foreign governments or the U.S. federal government for resource development. Companies must include details about the type and amount of payments, and this information must be presented publicly in a specific electronic format. The rule aims to deter corruption and promote accountability, although some exemptions and delayed reporting options are available to reduce the compliance burden on smaller companies.

The U.S. Department of Labor has issued a new final rule to clarify the differences between employees and independent contractors under the Fair Labor Standards Act (FLSA). This rule is intended to make these distinctions clearer by providing guidance based on economic realities, which consider factors like a worker’s control over their work and the potential for profit or loss. Two main factors, related to control and profit potential, are seen as more significant in determining a worker's status. The rule aims to increase predictability for both workers and businesses across all industries.

The Department of Defense (DoD) is introducing a new system of records called "Military Corrections and Parole Board Records." This system will track information related to military personnel who are confined due to violations of the Uniform Code of Military Justice, including details about their confinement, health, and parole decisions. DoD proposes to exempt portions of these records from certain parts of the Privacy Act for reasons related to national security and law enforcement. Public comments on this proposal are being sought until February 21, 2025.

The Department of Justice has lodged a proposed First Amendment to a Consent Decree with the District Court for Eastern Pennsylvania concerning a lawsuit against Lehigh Cement Company LLC and Lehigh White Cement Company, LLC. This amendment involves extending the deadlines for choosing between building new kilns or retrofitting existing ones at the Mitchell facility. It designates new kiln construction as the default if the decision is not made in time. Public comments on the amendment are open for 30 days, and the document can be accessed online or through a mail request.

The U.S. Department of Justice has proposed a Consent Decree with The Manitowoc Company, Inc. and its subsidiaries for allegedly violating the Clean Air Act by selling heavy construction equipment with non-compliant diesel engines. As part of the settlement, the companies will pay a $42.6 million fine and undertake a project to address the environmental damage caused by emissions. The public is invited to comment on the proposed decree within 30 days, and details can be accessed online.

The Department of Health and Human Services (HHS) is introducing a new system of records to be managed by the Office of Refugee Resettlement (ORR) within its Administration for Children and Families. This system, titled ORR Unaccompanied Children Bureau Child Abuse or Neglect Investigation Records and Central Registry, aims to document cases related to child abuse or neglect at ORR facilities and maintain a registry to vet individuals who may work with unaccompanied children. The information stored will be used for investigations and to ensure that those with a history of abuse or neglect are not allowed to work or volunteer in positions involving direct contact with children under ORR care. Importantly, the data recorded will not be shared for immigration enforcement purposes without prior written consent from the individual concerned.

The Securities and Exchange Commission (SEC) is proposing to change the rules around selling certain types of securities. They want to revise how the holding period is determined for securities obtained from market-adjustable ones, specifically for companies that are not listed on a national exchange. This means the holding period won't start until the securities are actually received upon conversion. The SEC also plans to require that Form 144 be filed electronically for companies subject to Exchange Act reporting, align the filing deadline for Form 144 with Form 4, and remove the need to file Form 144 for selling securities of companies not subject to Exchange Act reporting. These changes aim to make the process simpler and more transparent for investors and to prevent unregistered sales of securities.

The Department of Justice announced a proposed legal agreement, or consent decree, in a lawsuit against The Dow Chemical Company, Union Carbide Corp, and Performance Materials, NA, Inc. The lawsuit, filed under the Clean Air Act, accuses these companies of violating environmental regulations at their plants in Louisiana and Texas. The proposed consent decree outlines a requirement for the companies to carry out corrective actions, pay a $3 million fine, and complete environmental projects in Louisiana. The public is invited to comment on this proposal until 30 days after the announcement.

The Securities and Exchange Commission (SEC) has announced a proposed rule change submitted by The Options Clearing Corporation (OCC) to manage risks from intraday and overnight trading activity. This amendment, known as Amendment No. 3, introduces a new Intraday Risk Charge aimed at mitigating risks associated with rapidly fluctuating intraday trading volumes, particularly "zero-days-to-expiration" options. The rule aims to ensure that OCC's current risk management practices cover such trading activities and includes monitoring thresholds for issuing margin calls. The changes are designed to align with recent SEC rules and industry feedback, with implementation planned for September 2025. The SEC is seeking public comments on these proposed changes.