New version of conflict minerals reporting template now available

by Cydney Posner The Conflict-Free Sourcing Initiative (CFSI) has now made available a new version of the conflict minerals reporting template (CMRT) that has become the standard tool for gathering information from suppliers on conflict minerals  The new template can be downloaded for free.  The template is designed to help […]

NACD releases “Critical Issues for Board Focus in 2015”

by Cydney Posner The National Association of Corporate Directors has just released “Critical Issues for Board Focus in 2015.”  The issues list was developed following the NACD’s dialogues with a number of major institutional investors and roundtable discussions among investors and committee chairs of Fortune 500 companies.  The publication presents […]

Will FASB delay effectiveness of the new revenue recognition standard?

by Cydney Posner According to this article in Compliance Week, the FASB is considering deferring the effective date of the new revenue recognition standard. A decision will be made “no later than early second quarter” on whether to propose a delay. The article reports that, as FASB staff conducted site […]

Four questions audit committees should ask their audit firms

by Cydney Posner Audit Committee members may be interested in this release issued by the PCAOB in August 2012 designed “to assist audit committees in (1) understanding the PCAOB’s inspections of their audit firms and (2) gathering useful information from their audit firms about those inspections.” The PCAOB regularly performs inspections of […]

A little inside scoop in the ATP fee-shifting bylaws case

by Cydney Posner Today, at the PLI Securities Regulation Institute, the Honorable Jack Jacobs, formerly a Justice of the Delaware Supreme Court, was asked to comment on ATP Tour, Inc. v. Deutscher Tennis Bund, the Delaware Supreme Court case holding that a “fee-shifting” bylaw adopted by a board was “facially […]

Expecting SEC comments on your conflict minerals filing? Don’t hold your breath.

by Cydney Posner Waiting for those helpful and informative SEC comments on your — or even better, other companies’ — Form SD conflict minerals filings? Fuggedaboutit. At today’s PLI Securities Regulation Institute, Shelley Parratt, Corp Fin Deputy Director, Disclosure Operations, confirmed that, while Corp Fin is “assessing” this year’s conflict […]

More “broken windows” enforcement from the SEC?

by Cydney Posner Yesterday, the SEC announced that it had sanctioned ten companies (generally, smaller reporting companies traded on OTC Link) for failing to make required Form 8-K disclosures related to financings and unregistered stock sales. Individual penalties were either $25,000 or $50,000, being paid to the SEC in installments.