Global | Publication | June 28, 2016
US law requires all US individuals and legal entities who own 10% or more of a foreign business or private portfolio fund and all foreign individuals and legal entities who own 10 percent or more of a US business or private fund portfolio to file mandatory surveys with the US government department of Bureau of Economic Analysis (“BEA”).
Publication
The US Supreme Court has ruled that a “pure omission” under Item 303 of Securities and Exchange Commission Regulation S–K cannot give rise to a private action for securities fraud under Section 10(b) and Rule 10b-5(b) of the Securities Exchange Act of 1934.
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