SEC to Wall Street: SPACs aren’t a way around securities laws

first_imgIn a statement Thursday, a top SEC official made clear that despite their unique structure, special purpose acquisition companies are covered by federal securities rules. Claims that promoters face less legal liability than a traditional public offering are “uncertain at best,” said John Coates, the acting director of the agency’s corporation finance division.SPACs list on public stock exchanges to raise money for the purpose of buying other companies. For months, the SEC has been raising red flags that investors aren’t being fully informed of potential risks. [More: Financial advisers are steering clients away from SPACs]Coates emphasized that the firms have obligations as they seek to identify an acquisition target, and eventually take it public through another transaction known as a de-SPAC.“A de-SPAC transaction gives no one a free pass for material misstatements or omissions,” he said. “All involved in promoting, advising, processing, and investing in SPACs should understand the limits on any alleged liability difference between SPACs and conventional IPOs.” House panel unanimously passes SECURE 2.0 Newsletters 1 3 5 For reprint and licensing requests for this article, click here,MOST READ The Securities and Exchange Commission has a fresh warning for the booming SPAC market: Blank-check companies aren’t an end around to avoid disclosing key information to investors. House committee poised to advance SECURE 2.0 retirement savings billcenter_img InvestCloud to acquire Advicent and NaviPlan planning software About 300 SPACs launched on U.S. exchanges in the first quarter, raising almost $100 billion. That total was more than SPACs raised all of last year. The deluge has overwhelmed those responsible for reviewing filings at the SEC, triggered a surge in liability insurance rates for blank-check companies and fueled market anxieties that the bubble is about to burst. 2 The Gates divorce: Lessons for financial advisers Why Tony Robbins, tax shelters and financial advisers don’t mix 4 Subscribe for original insights, commentary and analysis of the issues facing the financial advice community, from the InvestmentNews team.last_img read more

Mass Resignations from 2018 WEG Bromont

first_img Horse Sport Enews Subscribe to the Horse Sport newsletter and get an exclusive bonus digital edition! SIGN UP We’ll send you our regular newsletter and include you in our monthly giveaways. PLUS, you’ll receive our exclusive Rider Fitness digital edition with 15 exercises for more effective riding. Email* Horse Sport has confirmed that five members of the board of the 2018 Bromont WEG (COJEM) have resigned en-masse including: Luc Fournier, CEO; François Duffar, chair of the board, Julie Payette, Rene Perreault, and Linda Heathcott.A press release issued by COJEM stated:“Faced with a number of issues since the beginning of their respective mandates, the two leaders came to the conclusion that, without major changes and the reiteration of their strong support from all partners and stakeholders, they will not be able to deliver and to stage the Games as planned in two years. They therefore resigned from their positions, both for professional reasons and in the hope of delivering a necessary wake up call. The resignation of the Board’s Chairman is effective immediately; as for the CEO’s, it will become effective in three months-time. The organization also accepted the resignation of two other Board members, Ms Julie Payette and Mr. René Perreault.”In a frank interview with the regional newspaper La Voix de L’Est, Fournier was quoted as saying that he realized this week that the organizing committee would not be able to deliver a quality product and that it would take somebody better equipped than him to make it work. Fournier, however, is no stranger to major events, having spearheaded the Sherbrooke Canada Games from 2010 to 2013, the 1997 Quebec Winter Games, the Quebec Winter Carnival from 1997 to 2002, the Major International Events Network (MIEN) from 2002 to 2010, and the Canadian Festivals Coalition from 2006 to 2010.At the Equestrian Canada convention in Montreal last weekend, Fournier noted that the lack of financial support from the Federal Government has made securing major sponsors almost impossible. The lack of commitment from the host country’s government makes potential sponsors too nervous to commit millions of dollars. COJEM had asked Ottawa to provide a minimum of $8.75 million dollars. In the same interview, Fournier also noted that traditionally such events have a financial backer in case of financial shortfall, which is not the case for COJEM.Despite these enormous difficulties, the remaining board members of COJEM are continuing on. Rosaire Houde has been named the interim-CEO and is “optimistic about the future”.“Although we have heard nothing official from Ottawa, we have been told that the file is progressing well,” he commented about the likelihood of receiving Federal funding.Houde is a former board member of Equine Canada as well former president of the Federation Equestre de Quebec. “(COJEM) will have a board meeting on Tuesday and will be bringing in new leadership and restructuring the board.”Fournier, who has only been on the job since September 2015, is the second CEO to resign the CEO’s position. Paul Côté had been chair of the Bromont Bid Committee and was named once the FEI approved the bid but resigned last August.It is the first time in the history of the World Equestrian games that this prestigious event will be held in Canada, and the second time outside the European continent. Tags: 2018 World Equestrian Games, COJEM, More from Horse Sport:Christilot Boylen Retires From Team SportAfter an exemplary career as one of Canada’s top Dressage riders, seven-time Olympian Christilot Boylen has announced her retirement from team competition.2020 Royal Agricultural Winter Fair CancelledFor only the second time in its history, The Royal Agricultural Winter Fair has been cancelled but plans are being made for some virtual competitions.Royal Agricultural Winter Fair Statement on 2020 EventAs the Province of Ontario starts to reopen, The Royal’s Board and staff will adhere to all recommendations put forward by government and health officials.Government Financial Assistance for Ontario FarmersOntario Equestrian has recently released this update of several financial assistance packages available, including those for farm business.last_img read more

UK Supreme Court rules ‘gay cake’ refusal not discrimination

first_imgThe U.K.’s Supreme Court ruled that a Belfast bakery that refused to make a cake bearing a pro-gay slogan for a homosexual customer did not break discrimination laws.The ruling overturns a £500 damages award imposed on the cakemaker by a lower court, arguing that the refusal to create the confectionary was justified under European free speech law.“It is deeply humiliating and an affront to human dignity to deny someone the service because of that person’s race, gender, sexual orientation, religion or belief,” the president of the Supreme Court, Brenda Hale, said after Wednesday’s ruling, the Guardian reported. “But that is not what happened in this case and it does the project of equal treatment no favors to seek to extend it beyond its proper scope.” The court found the Ashers bakery in Belfast would have refused to make the cake in question — bearing the “Support Gay Marriage” slogan along with a picture of the Bert and Ernie characters from Sesame Street — for any kind of customer, no matter their sexual orientation.Hale ruled that freedom of expression, which is guaranteed by Article 10 of the European Convention on Human Rights, includes the right “not to express an opinion which one does not hold.”“This court has held that nobody should be forced to have or express a political opinion in which he does not believe,” she said.The Supreme Court’s president highlighted the court’s conclusion is “not in any way to diminish the need to protect gay people and people who support gay marriage.”“In Northern Ireland, I’m a second-class citizen and that’s unfortunate,” said Gareth Lee, the customer who ordered the cake in 2014, after the ruling. “We don’t have the same rights in Northern Ireland as gay people as we do in the rest of the United Kingdom,” he said. The nation is the only part of the U.K. where same-sex marriage is not allowed.“The Ashers ruling is an historic and seminal judgment … This now provides clarity for people of all faiths and none,” Arlene Foster, leader of the conservative Democratic Unionist Party, wrote on Twitter. Also On POLITICO Theresa May: Tories and I were ‘wrong’ on gay rights in the past By Saim Saeed Romania ‘turns illiberal’ with moves against gay marriage By Claudia Ciobanulast_img read more

Career forum, June 12

first_imgEmployment Services, collaborating with a University-wide organizing committee, will host its ninth annual career forum on June 12. The event will be held at the Harvard Graduate School of Design’s Gund Hall, 48 Quincy St. and will be open to the public from 4 to 6:30 p.m.The career forum will open to internal candidates only at 3 p.m. Individuals must present a Harvard ID to gain admission during this period. Employees and recently laid-off employees will be able to receive individual attention from hiring areas at this time.This year’s forum will also feature the job search workshop “Standing Out to an Outstanding Employer,” as well as “Express Resume Review” and a variety of other job search resources. For more information about this event, visithttp://www.employment.harvard.edu.last_img read more

Nationwide Cellphone Alert System In the Works

first_imgThe network is expected to be up and running by 2010. Under the planned system, a county, state or federal first responder would send an alert to a still-to-be-determined federal agency that would serve as a clearinghouse. That agency then would relay the alert to participating wireless carriers. Lack of a simple way to deliver vital warnings to residents has hindered emergency response in disasters such as Hurricane Katrina, recent college-campus shootings, and a spate of devastating tornadoes in the Southeast in February. Although wireless carriers would not be required to upgrade their networks to accommodate the alerts, those that agree to participate would have to implement the FCC’s standards. The Federal Communications Commission is slated to establish technical standards and other requirements that for the first time would make such communication possible, two FCC officials say. The officials requested anonymity because commissioners have not yet voted on the plan. “We look forward to offering mobile emergency alerts to our customers,” says Jim Bugel, assistant vice president of federal affairs for AT&T. The FCC action is rooted in a 2006 federal law that ordered sweeping upgrades in the way emergency alerts are sent to mobile devices, land-line phones and broadcast TV stations. Today, many counties and law enforcement agencies can send warnings to mobile devices, but residents must sign up for the service. Plus, those who enlist receive alerts even if they’re out of the affected area, while visitors who haven’t joined don’t get the news. Also, a separate missive must be sent to each resident, clogging the network and delaying the arrival of many alerts. All four national cellphone providers — AT&T, Verizon, Sprint Nextel and T-Mobile — said they almost certainly will take part if the FCC adopts an advisory committee’s recommendations on how the system would work. The agency is expected to approve those proposals, which, among other things, would initially limit warnings to the English language and 90 characters in length, officials say. With consumers increasingly relying on cellphones, “It is essential that we support and advance new ways to share critical, time-sensitive information with them in times of crisis,” FCC Chairman Kevin Martin says. Federal regulators as early as today are expected to take a major step toward development of a nationwide emergency alert system that would send text messages to cellphones and other mobile devices wherever a crisis occurs. The messages would be broadcast on a single pathway to many users in the affected region, like a radio signal, avoiding the congestion that now afflicts such warnings. Few cellphones today can receive such messages, but most will be able to in three to five years, says Verizon Chief Technology Officer Tony Melone. Consumers with compliant phones would receive alerts unless they opt out. The system could be used for a variety of incidents, such as severe weather, a terrorist threat or child abduction. A message could be sent to a county, region, state or the entire nation.last_img read more

Kim Adrian Theriot

first_img Visitation will be on Tuesday, October 29, 2019 from 5:00 PM till 8:00 PM at Clayton Thompson Funeral Home in Groves.Service to honor Kim’s life will be at 10:00 AM Wednesday, October 30, 2019 in the Thompson Memorial Chapel at Clayton Thompson. Entombment will follow in Oak Bluff Memorial Park in Port Neches under the direction of Clayton Thompson. Kim Adrian Theriot, 62, of Port Arthur passed away on Saturday, October 26, 2019 at Harbor Hospice House in Beaumont.He was born on July 13, 1957 to his parents, Dennis Paul Theriot, Sr. and Amy Marie Loncon Theriot in Port Arthur, Texas.Kim was a lifelong resident of the area and attended Stephen F. Austin High School. He enjoyed working on tractors, drinking beer and cooking for family and friends especially barbecuing.Kim also enjoyed picking on everyone and had a nickname for everyone. He will truly be missed by all who knew and loved him.He was preceded in death by his parents, his sisters, Glenda R. Domec and Evelyn “Sue” Courville, his brothers, Jerry D. Theriot and Dennis P. Theriot, Jr.Kim is survived by his loving wife of 30 years, Tammy Myers Theriot of Port Arthur, his two sons, Cody Adrien Theriot and Steven Adam Theriot both of Port Arthur, one grandson, Cooper Adrien Theriot of Mont Belvieu, Texas, his two sisters, JoAnn Curtice and Jan Stelly and husband, Mike all of Port Arthur, his three brothers, Terry D. Theriot and wife, Beverly and Richard J. Theriot all of Port Arthur, Jay A. Theriot and wife, Sara of Nederland, Texas along with numerous nieces and nephews.center_img He retired from the City of Port Arthur Public Works Department as a Heavy Equipment Mechanic with 36 years of service.Kim also owned and operated KT Tractor Service for over 20 years as a home base business.He was a kind hearted person who was always lending a hand, he never met a stranger, sharing his advice and expertise to those in need especially the elderly.last_img read more

Health Care

first_imgThe Ehrling-Bergquist Clinic offers medical care services on a priority basis. First priority of care is to active duty military. Second priority is to family members of active duty, with retired military and family members enrolled in TRICARE Prime next and TRICARE for Life retirees on a space available basis.Dental care services are available to active duty military only. There is no emergency room at the clinic. There is an Acute Care Clinic offered seven days a week by appointment only. The closest emergency room is at Bellevue Medical Center Hospital, located at 25th St and Highway 370 in Bellevue.Ehrling Bergquist Clinic provides medical services for eligible beneficiaries enrolled in TRICARE Prime. All other beneficiaries are seen on a space-available basis.Upon arrival at Offutt AFB, you should transfer enrollment for your family members to our region and select a Primary Care Manager (PCM) in this area. To transfer enrollment, you must contact United Health Care at 1-877-988-9387 or attend the Medical Right Briefing which is held every Tuesday at 0800 in the APU building (# 4209) which located on the same lot behind the Ehrling-Bergquist Clinic.Upon arrival at Offutt AFB, our TRICARE contractor will coordinate the enrollment transfer with the contractor in the old location. Enrollment in our region is effective when our contractor receives a completed enrollment application and the enrollee has successfully disenrolled from the region in which they resided. If you disenroll your family before your departure to Offutt, there would be a gap in Prime coverage.The closest emergency room is at Bellevue Medical Center Hospital, located at 25th St and Highway 370 in Bellevue.last_img read more

Odds & Ends: Ruthie Ann Miles & George Salazar Sign On for ASTEP Holiday Benefit & More

first_img View Comments Ruthie Ann Miles(Photo: Emilio Madrid-Kuser) Here’s a quick roundup of stories you may have missed today. Ruthie Ann Miles, George Salazar & More Sign On for ASTEP Holiday BenefitTony winner Ruthie Ann Miles and stage alum George Salazar are among the latest stars slated to participate in New York Christmas, the 9th annual holiday benefit for Artists Striving to End Poverty (ASTEP). The concert will feature Broadway talent singing pop, rock, soul and R&B takes on new and classic holiday songs. The benefit will take place on December 11 at 7:00pm at Joe’s Pub. Newly announced stars also include Michael Buchanan, Carlos Encinias, Becca Gottlieb, Melody Madarasz and Zachary Noah Piser. They join the previously announced upcoming Carousel star Lindsay Mendez and current Anastasia leading man Derek Klena, with Elizabeth Stanley, Nick Blaemire, Chester Gregory, David Josefsberg, Bonnie Milligan, Cheeyang Ng, Lauren Pritchard, Shea Renee and Kay Trinidad. The ASTEP benefit will be directed by Jenn Rapp-Pearl.Steve Elmore, Original Cast Member of Company, Has DiedSteve Elmore, the Broadway veteran whose work included originating the role of Paul in the 1970 debut production of Stephen Sondheim and George Furth’s Company, has died at age 84. In addition to his turn in Company, Elmore appeared on Broadway in Jennie (1963), Fade Out—Fade In (1964), Kelly (1965), Nash at Nine (1973), Chicago (1975), 42nd Street (1980) and Anything Goes (1987). Elmore was seen off-Broadway in Dames at Sea (1968), The Enclave (1973) and The Songs of Jonathan Tunick (1979).Eric Concklin, Director of the Three Plays That Became Torch Song, Passes AwayDirector Eric Concklin, the director who first helmed International Stud, Fugue in a Nursery and Widows and Children First!—the three plays that later became Harvey Fierstein’s iconic Torch Song, has died. Fierstein shared the news on Twitter. “My friend ERIC CONCKLIN has died. He directed the orig. prods of the 3 plays that became TORCH SONG. Friends for nearly 50 years. This 1 is hard. But one last time I want to say THANK YOU,” said Fierstein. Concklin’s other stage credits included The Haunted Host (1969), Spookhouse (1984) and Safe Sex (1987).last_img read more

Hello, Dolly!’s Bernadette Peters & Victor Garber to Host 20th Annual Broadway Barks

first_imgBernadette Peters & Victor Garber(Photo: Emilio Madrid-Kuser) Show Closed This production ended its run on Aug. 25, 2018 View Comments The annual star-studded dog-and-cat adoption event Broadway Barks will be taking over New York’s Shubert Alley yet again this year! Co-founded by Bernadette Peters and Mary Tyler Moore, the event benefits New York City animal rescue groups and features Broadway celebrities helping to find loving homes for animals in need. This year, marking Broadway Barks’ 20th anniversary, will feature Peters hosting alongside her Hello, Dolly! co-star Victor Garber. Broadway Barks will take place on July 14.Festivities begin at 3:00pm for a meet-and-greet followed by the adoption event from 5:00-6:30pm. Four-legged adoptees will appear onstage alongside some of Broadway’s favorite stars.Over the last 20 years, more than 2,000 cats and dogs have stolen Broadway’s spotlight and the hearts of all who come to the event. Approximately 85% of these furry friends have successfully found forever homes thanks to Broadway Barks.Broadway Barks, produced by Broadway Cares/Equity Fights AIDS, is free and open to the public. Celebrity participants will be announced at a later date. center_img Related Shows Hello, Dolly!last_img read more

Florida Registered Paralegal Corner

first_imgFlorida Registered Paralegal Corner October 1, 2010 Regular News F lorida Registered Paralegal Corner Lori S. Holcomb FRP CounselWe have received questions lately about whether FRPs have to meet the Basic Skills Course requirement as part of their continuing education requirement. No, FRPs do not have to meet the Basic Skills Course requirement. This means FRPs do not have to take Practicing with Professionalism or three basic level Young Lawyers Division courses. If you have other questions about your continuing education requirement or questions about the program in general, check the common questions and answer links on the FRP page at www.floridabar.org/frp.last_img read more