"Penalties. Any late Form 4 filings must be disclosed in the proxy statement and a box must be checked on the cover page of the issuer’s Form 10-K indicating that late filings were made. Additionally, the Sarbanes-Oxley Act gives the SEC broad authority to seek any equitable relief it finds appropriate or necessary to benefit investors for any violations of the new two business day filing deadline." http://www.levettrockwood.com/00129012.pdf
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