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Securities and Exchange Commission (SEC)

Kimberly Redmond | Equities.com |

The US Securities and Exchange Commission (SEC) is investigating California-based electric vehicle startup Canoo Inc (Nasdaq: GOEV), which went public in December 2020 following a merger with special purpose acquisition company (SPAC) Hennessy Capital Acquisition Corp.

According to Canoo's Form 10-Q for the first quarter filed on Monday, the “fact-finding inquiry” will cover Hennessy’s initial public offering and merger with Canoo, along with Canoo’s “operations, business model, revenues, revenue strategy, customer agreements, earnings and other related topics.”


Reuters | Equities.com |

Apple Inc on Tuesday called for the U.S. Securities and Exchange Commission (SEC) to require companies to disclose far-reaching emissions information such as how customers use their products, according to a tweet from Apple Vice President Lisa Jackson.

The comments by the iPhone maker mark the most specific prescription to date from a large public company about what disclosures are needed, said Veena Ramani, senior program director for Ceres, a Boston-based climate advocacy group.


Kimberly Redmond | Equities.com |

The US Securities and Exchange Commission (SEC) said it is reviewing filings and seeking clearer disclosures for special purpose acquisition companies (SPACs).

On Thursday, John Coates, acting director of the SEC’s division of corporate finance, said the agency is stepping up scrutiny following a dramatic increase in the use and popularity of SPACs over the past six months.


Reuters | Equities.com |

U.S. securities regulators on Wednesday turned down an exemption sought by Amazon.com Inc to stop its investors from considering a shareholder proposal related to racial equity at the e-commerce giant.

The decision by the Securities and Exchange Commission followed an appeal by Amazon to block the non-binding proposal from being voted on at the company’s upcoming annual meeting.


Reuters | Equities.com |

The top U.S. securities regulator on Wednesday adopted measures that would kick foreign companies off American stock exchanges if they do not comply with U.S. auditing standards, and require them to disclose any governmental affiliations.

The Holding Foreign Companies Accountable Act, signed into law by then-President Donald Trump in December, is aimed at removing Chinese companies from U.S. exchanges if they have fail to comply with American auditing standards for three years in a row.


Kimberly Redmond | Equities.com |

A SpaceX engineer has pleaded guilty to conspiracy to commit securities fraud on the dark web.

James Roland Jones, a 33-year-old from Hermosa Beach, California, faces up to five years in federal prison after he allegedly tried to both buy and sell purported insider trader tips using the online moniker “MillionaireMike,” the US Department of Justice (DOJ) said Thursday.


Reuters | Equities.com |

(Reuters) - Lordstown Motors Corp shares plunged nearly 12% on Thursday after the electric pickup truck firm disclosed a regulatory inquiry over a short seller’s report claiming the company was using “fake” orders to raise capital.

The drop was the latest sign of a recent retreat in the once high flying electric vehicle sector, whose ranks have been swollen by the recent boom in special purpose acquisition companies, or SPACS.


Kimberly Redmond | Equities.com |

The US Securities and Exchange Commission charged AT&T Inc and three of its investor relations executives of disclosing nonpublic information to research analysts before the telecommunications giant released quarterly results to avoid falling short of Wall Street expectations.

In a complaint filed Friday in federal district court in Manhattan, the US financial regulator alleged that the telecommunications giant repeatedly violated Regulation Fair Disclosure (FD) and that three Investor Relations executives aided and abetted the company's violations by selectively disclosing material nonpublic information to research analysts.


Reuters | Equities.com |

U.S. President Joe Biden’s nominee to head a key market regulator promised on Tuesday a thorough review of issues raised by the GameStop Corp stock frenzy, including whether customers were best served by some retail trading practices.

Gary Gensler, the president’s nominee to lead the Securities and Exchange Commission, said he would look into whether customers get the best prices when brokers are paid for their order flow and business practices that incentivize trading.


Reuters | Equities.com |

Nikola Corp and its founder Trevor Milton had made several statements that were partially or completely inaccurate, the electric-truck maker disclosed in a regulatory filing late on Thursday following an internal review.

Kirkland & Ellis, a law firm hired by Nikola to conduct a review in connection to allegations of fraud by short-seller Hindenburg, was also assessing if the inaccurate statements violated any statute, the filing said.