Tag: Corp Fin Director Bill Hinman

SEC Chair and Corp Fin Director call for more forward-looking information

Yesterday, SEC Chair Jay Clayton and Corp Fin Director Bill Hinman issued a statement on the Importance of Disclosure – For Investors, Markets and Our Fight Against COVID-19. The statement urges companies, as they issue earnings releases and conduct analyst and investor calls in the coming weeks, to provide as much information as practicable, focusing their disclosure less on historical information and more on “current financial and operating status, as well as future operational and financial planning” under “various COVID-19-related mitigation conditions.”  Among other topics, they encourage companies to address liquidity and resource needs, receipt of financial assistance under government programs, company efforts to protect worker health and customer safety  and strategies to incrementally resume regular operations as the crisis resolves.