On July 26, 2023, the U.S. Securities and Exchange Commission (SEC) adopted final rules requiring U.S. public companies to disclose material cybersecurity incidents on Form 8-K and, on an annual basis, disclose material information regarding their cybersecurity risk management, strategy and governance on Form 10-K. The final rules also require foreign private issuers to make comparable disclosures on Forms 6-K and 20-F.
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On September 23, 2020, the Securities and Exchange Commission adopted the amendments to its shareholder proposal rule, which governs the process for a shareholder to have a proposal included in the company’s proxy statement for consideration by all shareholders. Typical shareholder proposals include recommendations that a company or its board of directors take specified actions. The amendments are designed to promote engagement between the company and the proponent, raise eligibility thresholds for shorter-term investors and further restrict repeat proposals garnering minimal support.
To read the full text of this Duane Morris Alert, please visit the firm’s website.
On August 26, 2020, the U.S. Securities and Exchange Commission (SEC) adopted final rules amending the definitions of “accredited investor” and “qualified institutional buyer” (QIB). The purpose of the amendments is to identify more effectively institutional and individual investors that have sufficient knowledge and expertise to participate in investment opportunities without investor protections provided by registration under the Securities Act of 1933.
The final amendments will be published in the Federal Register soon and become effective 60 days after publication.
To read the full text of this Duane Morris Alert, please visit the firm website.