What is Rule 16A?
What is Rule 16A?
16A. Disclosures in the financial statement.- (1) Every company, other than a private company, shall disclose in its financial statement, by way of notes, about the money received from the director.
What is section 16 of the 34 Act?
Section 16 is a rule within the Securities Exchange Act of 1934 (SEA) that articulates the regulatory filing responsibilities that directors, officers, and principal stockholders are legally required to adhere to.
What is an SEC officer?
SEC Officer means any person that is (i) an “officer” of the Corporation within the meaning of Rule 16a-1(f) under the Exchange Act, regardless of whether such person is then subject to Section 16 under the Exchange Act, or (ii) a member of the Board.
How is Section 16 officer determined?
Section 16 Officer means every person who is directly or indirectly the beneficial owner of more than ten percent (10%) of any class of any equity security (other than an exempted security) which is registered pursuant to Section 12 of the Securities Exchange Act of 1934.
What is a 13D filing with the SEC?
Schedule 13D is a form that must be filed with the U.S. Securities and Exchange Commission (SEC) when a person or group acquires more than 5% of any class of a company’s equity shares. Schedule 13D is also known as a “beneficial ownership report.”
What is Rule 405 of the Securities Act?
Under Securities Act Rule 405, the Commission may grant waivers of ineligible issuer status “upon a showing of good cause, that it is not necessary under the circumstances that the issuer be considered an ineligible issuer.” Authority to act on applications for waivers from ineligible issuer status has been delegated …
What is rule 16a-2 ( C ) of the Exchange Act?
Question: Rule 16a-2 (c) provides that “a ten percent beneficial owner not otherwise subject to Section 16 of the Act must report only those transactions conducted while the beneficial owner of more than ten percent of a class of equity securities of the issuer registered pursuant to Section 12 of the Act.”
What is the definition of terms in rule 16A?
Rule 16a-1 – Definition of terms. Terms defined in this rule shall apply solely to section 16 of the Act and the rules thereunder. These terms shall not be limited to Section 16 (a) of the Act but also shall apply to all other subsections under section 16 of the Act.
What does section 16 of the Securities Act do?
In particular, to prevent the unfair use of information which may have been obtained by an officer, Section 16 authorizes the company to recover any profits realized by the officer from any purchase and sale of securities (or sale followed by a purchase) during a six-month period.
Who are your SEC Rule 16a-1 executive officers?
The SEC similarly defines an “officer” in Rule 16a-1(f) and an “executive officer” in Rule 3b-7, both under the Securities Exchange Act of 1934 (the “Exchange Act”). Rule 16a-1(f) defines the term as the president, principal financial officer, principal accounting officer, any vice-president of the issuer in charge of a principal business unit,…