The Securities and Exchange Commission has issued a new set of interpretations regarding Section 16 of the Securities Exchange Act, which governs the reporting obligations of corporate insiders.
The interpretations, which supersede those found in the Telephone Interpretations Manual and FAQs that related to Section 16, consolidate a collection of existing interpretive guidance previously located in multiple documents into a single, easy-to-find document, says Howard Berkenblit, a partner at the law firm Sullivan & Worcester.
