Posts Tagged ‘disclosure’

Latest Tips on Brexit Disclosure

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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Google’s Perfect Privacy Breach

breach

You gotta give Google credit. Only that outfit, with perhaps the most intellectually talented employees in Corporate America today, could come up with a data breach so maddening and thought-provoking for corporate compliance officers. The breach was discovered last March. A glitch in the Google+ social media network had exposed the personal data for nearly…

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The Many Lessons of Elon Musk

Musk

Corporate executives can learn a lot from the daring and vision of Elon Musk — just probably not in the way that Musk might prefer. His tenure at Tesla lately has become a living case study in how not to govern a large organization. That’s been the fundamental problem with Musk for quite some time:…

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Piwowar Drops Big Hints on Future SEC Policy

piwowar

Acting SEC Chairman Michael Piwowar gave a speech Friday that hit all the major themes compliance offices should expect from the SEC under the Trump Administration: a push for simplified disclosure, fewer corporate penalties, and easier standards for raising capital. Although, in one surprise twist, Piwowar did say he supports corporate penalties for violations of…

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‘Trump Risk’ Disclosures Start Rolling In

silos

When we last left disclosure of “Trump risk” just after the November 8 presidential election, only a few brave filers mentioned the victory of Donald Trump in their risk factors. Prompt as they were, those disclosures were predictably vague because nobody knew what a Trump Administration might portend. Now fourth-quarter 2016 reports are hitting the streets, with many…

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Keeping Up With New Going Concern Standard

December 15 rapidly approaches, and financial reporting executives know what that means: new disclosure rules coming into effect for fiscal years ending after that date. The most interesting one may be the new standard for companies to assess their ability to continue as a going concern. The Financial Accounting Standards Board adopted that standard, Disclosure…

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Four Companies to Watch for ‘Trump Risk’

silos

Last week two companies became the first public filers to cite the incoming Trump Administration as a risk worth disclosing in the Risk Factors section of their quarterly reports. We haven’t seen any more since then, although we will in the future. Several people wrote to me after that post last week, essentially saying—well, so…

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It’s Starting: Disclosure of ‘Trump Risk’

silos

They’re here, they’re here! The first corporate filings that cite the incoming Trump Administration as a potential risk factor! The winner is TPI Composites, a Rhode Island-based manufacturer of components for wind power generation. TPI filed its third-quarter report at 4:41 p.m. on Wednesday, Nov. 9. Fourteen minutes later came the quarterly report for Adeptus…

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Another Governance Problem Mylan Calls Out

For corporate governance and compliance thinkers, Mylan Labs is the gift that keeps on giving. Earlier this week we looked at the compensation incentives Mylan designed for senior executives—incentives that drove them to raise the price of EpiPens to punishing levels for consumers. Let’s keep pulling on that thread. It leads to some excellent questions…

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Better Ways to Look at Non-GAAP Accounting

Well, it’s happened. The financial reporting world has reached peak non-GAAP discussion. The moment happened sometime last week. We had two research reports about use of non-GAAP accounting metrics published at the same time (one from Audit Analytics, the other from Calcbench and Radical Compliance), and a speech from Securities & Exchange Commission chairman Mary…

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