Skip to content

Posts Tagged ‘SEC policy’

Thoughts on SEC Rulemaking Push

sec

Compliance officers, we need to talk about the Securities and Exchange Commission. Something’s happening there.  The latest sign of this came earlier this week, when Democratic commissioner Robert Jackson said that he now plans to stay in his job at least through the fall, and possibly longer. Earlier this year Jackson had signaled that he…

Read More

Another SEC Award Favoring Compliance

whistleblower

The Securities and Exchange Commission handed out a $3 million whistleblower award on Monday to two whistleblowers who first tried to report and fix their firm’s misconduct internally — yet another sign that the SEC is at least trying to nudge whistleblowers to work with corporate compliance departments. In another twist, the SEC also waived…

Read More

SEC Nominee Emerges!

sec

It’s finally happened, folks: the Trump Administration is nominating someone for a long-vacant Democratic seat on the Securities & Exchange Commission, with potentially profound consequences for corporate governance and SEC regulatory policy. As expected, President Trump will nominate Allison Lee. Lee’s name has been floating around as the likely nominee since last summer, although for…

Read More

Discrepancies in Corporate Disclosure

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…

Read More

SEC Asks Disclosure Reform Questions

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…

Read More

SEC Lists Rules for Review

sec

The Securities and Exchange Commission quietly proposed Wednesday afternoon to review whether dozens of corporate governance and proxy rules should apply to small filers: everything from executive compensation disclosure, to posting proxy materials online, to shareholders’ ability to nominate board directors, and more. The timing of the notice — posted just a few hours before…

Read More

Thoughts on Semiannual Reporting

reporting

Many moons ago — OK, actually 10 days ago, but that qualifies as many moons ago these days — President Trump floated the idea of letting U.S. companies adopt to semiannual corporate reporting rather quarterly. For a day we were all verklempt, torn between the lure of less short-term focus on Wall Street and our…

Read More

SEC Nominee Gets Hearing

Roisman

The Trump Administration’s nominee for an open seat on the Securities and Exchange Commission appeared before the Senate Banking Committee on Tuesday, and while his nomination is probably in good shape, he endured sharp questions from Democratic committee members on SEC enforcement and conflict-of-interest rules. The nominee, Elad Roisman, is currently chief counsel for the…

Read More

On SEC Whistleblower Reforms

retaliation

Corporate compliance officers deal with whistleblowers all the time. So now that the Securities and Exchange Commission is moving to revamp its whistleblower award program, watch that debate closely. Lots of constituencies are going to voice opinions here, and you don’t want yours to get lost in the fray. The SEC published its proposed reforms…

Read More

About That Inline XBRL Rule…

xbrl

Last week the SEC adopted a rule for companies to use Inline XBRL technology with their corporate reports starting as early as next year. The good news for financial reporting executives: this rule will streamlines the technical work necessary in filing financial statements to the SEC. The more intriguing news for everyone else: The SEC’s…

Read More