Chicago-based specialty broker Ryan Specialty Group has submitted a draft registration statement on Form S-1 with the SEC relating to the proposed initial public offering of its Class A common stock. The number of shares of Class A common stock to be offered and the price range for the proposed offering have not yet been… Continue reading Ryan Specialty Group Files for IPO
Tag: SEC
SEC Signals a More Aggressive Stance Toward Wall Street
The U.S. Securities and Exchange Commission’s acting Democratic leadership hasn’t wasted time letting Wall Street know a new cop is on the beat. SEC Acting Chair Allison Herren Lee last week said the regulator would roll back a policy giving publicly traded companies greater certainty about whether they will be able to maintain access to… Continue reading SEC Signals a More Aggressive Stance Toward Wall Street
Gig Workers Could Be Paid Partially in Stock Under SEC Proposal
Privately held online platform companies such as DoorDash and UrbanSitter could pay their workers partially in stock under a rule proposed Tuesday by the Securities and Exchange Commission. So-called gig-economy workers currently don’t qualify for SEC exemptions that allow private firms to offer equity compensation to their employees and contractors. Firms including Uber Technologies Inc.—before… Continue reading Gig Workers Could Be Paid Partially in Stock Under SEC Proposal
SEC Proposes Amending Corporate Disclosure Rules
The U.S. Securities and Exchange Commission is proposing changes to rules governing how companies disclose financial information—the latest move by the regulator to give executives more flexibility in what they share with investors. The proposal, which has been released for public comment over the next 60 days, reflects the regulator’s general shift from strict guidance… Continue reading SEC Proposes Amending Corporate Disclosure Rules
SEC Urges Better Cybersecurity Practices at Financial Firms
The Securities and Exchange Commission is telling financial-services companies what kind of cybersecurity practices it has found during audits, giving them detailed information on how to handle sensitive data and guard against cyberattacks. The observations by the SEC are the latest in a string of moves by regulators and government agencies that demonstrate they are… Continue reading SEC Urges Better Cybersecurity Practices at Financial Firms
SEC Probes AIG Unit on Retirement Products for Teachers
The Securities and Exchange Commission is investigating sales and disclosure practices at Valic, a unit of giant insurer American International Group Inc., including the company’s dealings with retirement-plan participants at school districts and universities, according to people briefed on the matter. The inquiry centers on whether incentives in Valic’s compensation structure rewarded representatives for selling… Continue reading SEC Probes AIG Unit on Retirement Products for Teachers
Argo Group Gets SEC Subpoena Over Executive Compensation
Argo Group International Holdings Ltd. has been subpoenaed by U.S. securities regulators about perks for its executives and is conducting an internal review. The U.S. Securities and Exchange Commission is seeking documents focused on Argo’s disclosures about executive compensation, the company said in response to inquiries from Bloomberg News. Its independent directors are conducting a… Continue reading Argo Group Gets SEC Subpoena Over Executive Compensation
Seven States Sue SEC on Concern Broker Rule Is Weak
Seven states asked a federal court on Monday to invalidate a regulation that requires stockbrokers to disclose more about conflicts of interest that could influence their financial advice, claiming that the rule is weak. The lawsuit, filed in Manhattan federal court by the states’ Democratic attorneys general, illustrates how a rule intended to protect mom-and-pop… Continue reading Seven States Sue SEC on Concern Broker Rule Is Weak
Deutsche Bank to Pay $16 Million for Improper Hiring Practices
Deutsche Bank AG has agreed to pay $16 million to settle charges by the Securities and Exchange Commission that it violated U.S. foreign bribery law by hiring relatives of foreign government officials. Deutsche Bank settled the Foreign Corrupt Practices Act charges without admitting to or denying the SEC’s findings in an administrative settlement Thursday. The… Continue reading Deutsche Bank to Pay $16 Million for Improper Hiring Practices
States Pursue their Own Investment Broker Conduct Rules
Several states are rolling out stricter standards for investment-broker conduct, bucking industry warnings about an unwieldy patchwork of rules around the country. The state-level rule-making, primarily in states led by Democrats, comes as the Securities and Exchange Commission moves to finish its own national conduct requirements for brokers paid by commission for investment advice. At… Continue reading States Pursue their Own Investment Broker Conduct Rules