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For example, disgorgement of short-swing profits is the remedy prescribed by § 16(b) of the Securities Exchange Act of 1934. [3] The second edition of American Jurisprudence states that: Disgorgement is an equitable remedy designed to deter future violations of the securities laws and to deprive defendants of the proceeds of their wrongful ...
A short swing rule restricts officers and insiders of a company from making short-term profits at the expense of the firm. It is part of United States federal securities law , and is a prophylactic measure intended to guard against so-called insider trading . [ 1 ]
Section 16(b) of the Securities Exchange Act of 1934 prohibits short-swing profits (from any purchases and sales within any six-month period) made by corporate directors, officers, or stockholders owning more than 10% of a firm's shares. Under Section 10(b) of the 1934 Act, SEC Rule 10b-5, prohibits fraud related to securities trading.
Typically, the manager of the hedge fund is compensated with a fee based on 2% of the gross assets of the fund, and a profits interest entitling the manager (or, more typically, its affiliated general partner) to 20% of the fund's return (subject, in many cases, to minimum guaranteed returns for the limited partners). [4]
Form 4 is a United States SEC filing that relates to insider trading.Every director, officer and owner of more than 10 percent of a class of a particular company's equity securities registered under Section 12 of the Securities Exchange Act of 1934 must file with the United States Securities and Exchange Commission a statement of ownership regarding such security.
Regulation S-K is a prescribed regulation under the US Securities Act of 1933 that lays out reporting requirements for various SEC filings used by public companies. Companies are also often called issuers (issuing or contemplating issuing shares), filers (entities that must file reports with the SEC) or registrants (entities that must register (usually shares) with the SEC).
Any gain or loss from a 1256 Contract is treated for tax purposes as 40% short-term gain and 60% long-term gain, regardless of holding period. Because most futures contracts are held for less than the 12-month minimum holding period for long-term capital gains tax rates; the gain from any non-1256 contract will typically be taxed at the higher ...
New York University Law School won the case because, at that point, tax-exempt organizations were not subject to income tax on their revenue from any source as long as the revenue was used towards the organization's tax-exempt purpose. [14] [15] In 1950, Congress amended the tax law to introduce the concept of unrelated business income. [17]