SEC proposes faster Form 8-K reporting and other reforms. (SEC News).The SEC recently issued proposed amendments to Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. under the Securities Exchange Act of 1934, requiring companies to report transactions by executive officers. The amendments respond to investors' needs for timely disclosure on EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. of transactions and other arrangements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc executive officers and directors. The proposals would require domestic companies with a class of equity security registered under Sec. 12 of the Exchange Act to report information on Form 8-K such as executive officers' and directors' transactions in company equity securities; their plans and other arrangements for the purchase or sale of company equity securities; and loans of money to directors and executive officers made or guaranteed by the company or an affiliate Affiliate Relationship between two companies when one company owns substantial interest, but less than a majority of the voting stock of another company, or when two companies are both subsidiaries of a third company. See: Subsidiaries, parent company. of the company. Reports of transactions and loans with an aggregate value of $100,000 or more would be due within two business days. Reports of transactions under $100,000 and some categories of transactions would be due by the close of business on the second business day of the following week. However, reports of transactions and loans with an aggregate value less than $10,000 would be deferrable until the aggregate cumulative value of unreported events for the same director or executive officer exceeds $10,000. Comments on the proposals are due within 60 days after publication in the Federal Register. For more details go to www.sec.gov/news/press/2002-53.txt. |
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