Biden

Today we pivot back to the incoming Biden Administration and what corporate compliance officers should anticipate as we all plan budgets and priorities for 2021. We have more insight now into who might lead important regulatory agencies under President Biden, and into what policy goals or enforcement efforts a Biden Administration would be able to…

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Fiat

Sometimes an enforcement action cuts across numerous branches of governance failure, to offer lessons for all manner of risk assurance professionals. Such a thing happened last week, when Fiat Chrysler agreed to pay $9.5 million to settle charges that it wasn’t honest with investors about an investigation into auto-emissions cheating devices. What we have, according…

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disclosures

Just in time for the end of second quarter, the Securities and Exchange Commission has published another dollop of guidance about financial disclosures companies should keep in mind as they navigate Covid-19.  The statement came Tuesday from chief accountant Sagar Teotia. It’s the latest in a series of pronouncements SEC officials have made since early…

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sec

The Securities and Exchange Commission has proposed new rules meant to simplify corporate financial disclosure, and also fired off a piece of guidance about how companies should approach non-financial metrics they might want to include in securities filings.  The proposed rules weren’t exactly a surprise; the SEC has long talked about wanting to streamline the…

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climate change

Am I imagining things, or have people suddenly turned up the heat on corporate disclosure of climate change issues?  Just today, for example, business and political leaders at Davos (always a leading source of hot air) announced a new framework for corporations to report sustainability metrics according to the U.N. Sustainable Development Goals. Climate change…

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The Securities and Exchange Commission has fined a Florida pharmaceutical firm $200,000 for violating Regulation Fair Disclosure — an offense we don’t see too often in compliance land, and therefore offers a good glimpse into the control failures that might lead to this sort of trouble. The company, TherapeuticsMD, develops hormone therapies to help with…

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disclosures

Several weeks ago we had an update here about the SEC’s idea to relax quarterly reporting rules, perhaps in favor of letting companies disclose more via their earnings release. Today let’s explore two practical challenges with that notion: companies can omit unwelcome numbers in their earnings releases, and change what those numbers are by the…

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reporting

Corporate disclosure mavens, we have an issue that needs attention: Nobody is talking about the SEC’s recent call for comments about moving to a semiannual corporate reporting regime. As you might recall, the SEC published its call for comment in December — 31 pages of questions, asking investors, corporations, and all other interested parties whether…

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reporting

The Securities and Exchange Commission is asking for opinions about the quarterly reporting system again, the latest volley in what could be a contentious debate in 2019 about corporate disclosure. The request for comment, published Tuesday, runs 31 pages long. It asks whether some disclosures in the Form 10-Q quarterly report could be abolished if…

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Now that the British government is coming apart at the seams over Brexit, this might be a good time to revisit what companies should be disclosing to investors and the public about their exposure to Brexit risk. SEC chairman Jay Clayton has been talking up Brexit disclosure for several months, urging companies to give investors…

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