Posts Tagged ‘SEC policy’
Financial CCOs Propose SEC Advisory Group
The professional association for compliance officers in the financial services industry has asked the Securities and Exchange Commission to form a Compliance Advisory Committee, so that compliance officers at regulated firms can have a stronger voice in SEC policy matters that might affect them. The National Society of Compliance Professionals, which caters to compliance officers…
Read MoreBanks Ask SEC to Scale Back Cyber Rule
The banking industry is asking the Securities and Exchange Commission to rescind its 2023 rules requiring companies to disclose more details about the cybersecurity incidents they suffer, presumably figuring that the Trump-tilted leaders of today’s SEC will be predisposed to agree. A collection of banking trade groups sent a letter to the SEC late last…
Read MoreQuestions for Incoming SEC Chairman
Last week President-elect Trump said he will nominate Paul Atkins to be the next chairman of the Securities and Exchange Commission. Now compliance and audit professionals can start considering how an Atkins-led SEC will shape corporate compliance for the next few years, and there are lots of questions to contemplate here. Start with the biographical…
Read MoreA Convergence of Risk Disclosure
Like many other people, last week I read the SEC’s new requirements for disclosure of climate change risks with a sense of trepidation. The more I studied them, however, the more I felt something else: a sense of déjà vu. Like, has anybody else noticed how similar these disclosure requirements are to those that the…
Read MoreSEC Adopts Climate Disclosure Rule
The Securities and Exchange Commission has finally adopted its rule for disclosure of greenhouse gas emissions and climate risks, voting Wednesday to impose the rule but dropping its original (and most controversial) proposal that companies would need to calculate and report greenhouse gasses caused by their supply chains. The vote fell along the SEC’s usual…
Read MoreSEC Climate Rule Coming Next Week
The Securities and Exchange Commission has scheduled a vote on its proposed climate-change disclosure rule for next week, amid rumors that the agency will drop its original idea to have companies track and report the carbon emissions of their supply chains. The meeting will happen next Wednesday, March 6, at 9:45 a.m., and will be…
Read MoreSEC Kicks Climate Rule to 2024
The Securities and Exchange Commission has pushed adoption of its greenhouse gas disclosure rule to April 2024, confirming what everybody already knew: the agency’s progress on a final text is mired in debate about how to handle greenhouse gas emissions from a company’s supply chain. The Biden Administration published its Fall 2023 regulatory agenda on…
Read MoreA Memo on Cyber Materiality
So there I was the other day, pondering that new Securities and Exchange Commission rule for expanded disclosure of cybersecurity issues, when my phone rang. It was my friend the cybersecurity auditor. “Hey,” he said, “I have an idea for how companies can prepare for that new rule about disclosing cybersecurity stuff.” I was intrigued.…
Read MoreSEC Warns on Risk Assessments
The top accountant at the Securities and Exchange Commission is warning auditors and corporations alike to do better at risk assessments, and in particular to pay more attention to small control failures that might be suggestive of larger issues in a company’s control environment. Chief accountant Paul Munter released his statement Friday afternoon, a maneuver…
Read MoreSEC Adopts Cyber Disclosure Rule
As expected, the Securities and Exchange Commission adopted new rules today requiring publicly traded companies to make more disclosures about the cyber risks they have and the specific cyber attacks they suffer. The final rules are largely in step with what the SEC first proposed last year: annual discussion of cyber risks in the company’s…
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