climate

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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disclosure

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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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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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

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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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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