The US bank helped to raise funds USD6.5bn through bond offerings for the fund, but according to Malaysian prosecutors, USD2.7bn was diverted and offering statements
filed with regulators were false, misleading or involved material omissions.
Shortly following the publication of the Liberty Times report, CNA followed up with a report offering statements
from AIT officials on the future security of the new compound.
The Securities and Exchange Commission is reviewing the more than 40 comments it has received on a study on modifying the accredited investor definition and has received more than 100 offering statements filed since the agency's capital-raising Regulation A+ rule was amended a year ago, SEC Chairwoman Mary Jo White said Tuesday.
Speaking at a meeting of the agency's Advisory Committee on Small and Emerging Companies, White said that since the final Reg A+ rules went into effect last year, the agency "has qualified nearly 50" of the 100 offering statements in what she dubbed "a very interesting and dynamic space."
Since Reg A+ became effective in March 2015, issuers have publicly filed over 85 offering statements
, while others have taken advantage of provisions in the rules that allow for non-public staff review of draft offering statements
before publicly filing, White said.
Majdalani told the court that while offering statements
Recently, two of GFOA's standing committees--the Committee on Accounting, Auditing, and Financial Reporting and the Committee on Governmental Debt Management--jointly developed guidelines for the benefit of governments wishing to incorporate their audited financial statements into offering statements
or to post them on their Web sites.
There also is a trend by the courts to require investors to pay attention to disclaimers and warnings in offering statements
Since Reg A+ became effective last March, issuers have publicly filed more than 85 offering statements
, while others have taken advantage of provisions in the rules that allow for nonpublic staff review of draft offering statements
before publicly filing, White said at the IOSCO event.
Wachovia's offering statements
for the poor quality securities 'contained untrue statements of material fact or omitted to state material facts' that misrepresented the actual risk of the securities, the NCUA said.