To our clients and friends:
The SEC recently approved amendments to Rule 10b5-1 regarding insider trading plans to revise the conditions that must be met for insiders to be able to use the 10b5-1 affirmative defense including, among other things, cooling-off periods, representations from plan participants and new periodic disclosure requirements for issuers and their insiders.
Our Alert regarding the new requirements is available here.
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The SEC recently adopted final rules directing the securities exchanges to establish listing standards requiring issuers to develop, implement and disclose executive compensation clawback policies. The new clawback requirements are in addition to the SEC’s current clawback rules, which remain in effect.
Our Alert regarding the new rules is available here.
Read More...To our clients and friends:
The Federal Reserve issued a supervisory letter requiring regulated institutions that are currently engaged in or seeking to engage in crypto-asset-related activities to provide notice to the Federal Reserve and take certain other steps.
Our Alert regarding crypto-asset-related activities is available here.
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Federal Reserve Governor Michelle Bowman recently discussed the need to modernize methods used to analyze effects on competition in markets when evaluating mergers and acquisitions. Our Alert regarding Governor Bowman’s comments is available here.
Read More...On September 16, 2022, LINKBANCORP, Inc., the holding company of The Gratz Bank, including its LINKBANK division, closed its initial public offering of common stock. LINKBANCORP sold 4,575,000 shares of its common stock at a public offering price of $7.50 per share. This is the second firm commitment Bank IPO completed this year.
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