Category: Securities
Has the PCAOB finally reached a compromise on naming audit engagement partners?
by Cydney Posner The saga of the PCAOB and its proposals to require identification of the audit engagement partner continues. Compliance Week reports, based on a newly published PCAOB standard-setting agenda, that the PCAOB is now considering issuance of a supplemental request for comment in connection with yet another proposed compromise […]
Corp Fin tallies shareholder proposal no-action requests and responses
by Cydney Posner As reported by Bloomberg, director of Corp Fin Keith Higgins, speaking at the ABA meeting of the Business Law section in Chicago, provided Corp Fin’s tally of no-action requests and responses in connection with shareholder proposals for the 2014 proxy season. According to the article, Corp Fin received […]
A peek into Corp Fin’s assessment of the first year of conflict minerals filings
by Cydney Posner As those who worked on conflict minerals this past year can attest, the SEC was not exactly lavish in providing guidance on the application of its rules. As reported by Bloomberg, director of Corp Fin, Keith Higgins, speaking at the ABA meeting of the Business Law section […]
New House bills seek to relax some SEC requirements and help reverse the growth in income inequality
by Cydney Posner Hat tip to thecorporatecounsel.net blog for identifying these two new House bills. H.R. 5405, Promoting Job Creation and Reducing Small Business Burdens Act, is intended to relax some additional requirements for Emerging Growth Companies (EGCs), and has been passed by the House. It has some good stuff In […]
More Women on Boards: It’s the Economy, Stupid
by Cydney Posner When the Chair of the SEC and the editors of Bloomberg both think it’s worth getting on their soapboxes to promote the same issue, maybe it’s time for public companies to pay attention. The issue? Women on Boards. Earlier this month, the editors of Bloomberg published “Companies […]
Monumental effort by some to comply with conflict minerals rule: is it helping or hurting?
by Cydney Posner For some companies, compliance with the SEC’s conflict minerals rule required a truly monumental effort. According to this article in the WSJ, one company identified over 38,000 suppliers– pause on that a moment: thirty-eight thousand suppliers! – of components for its products that might contain conflict minerals (tin, tantalum, […]
Good news for companies adopting retrospective approach to new FASB revenue recognition standard
by Cydney Posner One of the critical questions that companies are facing under FASB’s new revenue recognition standard is whether companies that elect to follow a retrospective approach (applying the standard to both current and prior years — e.g., 2016 and 2015 revenues in addition to 2017) will be required […]
Academic study shows increases in insider sales prior to public release of certain SEC comment letters
by Cydney Posner Articles in Compliance Week and Forbes report on a recent academic study showing unusually high levels of stock sales by insiders in the period prior to public release of SEC comment letters that addressed revenue recognition issues, a topic that can often spell trouble at many companies. The level of […]