Tag: disclosure effectiveness project

SEC releases strategic plan

Yesterday, the SEC released for public comment a draft of its proposed strategic plan, which outlines the SEC’s priorities through FY 2022.  The plan identifies three strategic goals related to investors, innovation and SEC performance.  According to the press release, the plan “highlights the SEC’s commitment to serving the long-term interests of Main Street investors; becoming more innovative, responsive, and resilient to market developments and trends; and leveraging staff expertise, data and analytics to bolster performance.”  While not exactly long on detail, the plan does provide a general idea of SEC priorities.

More on the SEC’s Disclosure Update and Simplification Proposing Release

by Cydney Posner In her statement at the SEC open meeting to vote on issuing the “Disclosure Update and Simplification Proposing Release,” SEC Commissioner Kara Stein protested that “this proposal may be framed in such a hyper-technical way that it fails to provide a bona fide opportunity for a wide […]

SEC votes to propose rule amendments to eliminate outdated or redundant provisions

by Cydney Posner At an open meeting today, the SEC voted to take an interim step in its disclosure effectiveness project, proposing amendments “to eliminate redundant, overlapping, outdated, or superseded provisions,” in light of subsequent changes to SEC disclosure requirements as well as GAAP and IFRS requirements. This is not […]

SEC Chief Accountant advises on audit committee responsibilities

by Cydney Posner In remarks before the UCI Audit Committee Summit at the end of October, SEC Chief Accountant James Schnurr addressed the importance of the oversight role that audit committees play, providing specific advice on inquiries that audit committee members should pursue. He focuses on four areas: the SEC’s concept […]

Highlights from panels with current and former staff of Corp Fin

by Cydney Posner Below are some highlights (from my notes) of the PLI Securities Regulation Institute panel discussions Thursday and Friday with the Corp Fin staff (Keith Higgins, Shelley Parratt, David Fredrickson, Michele Anderson, Karen Garnett) as well as a number of some former staffers, plus some additional discussion from […]

Will we see any big changes resulting from the SEC’s disclosure effectiveness project?

by Cydney Posner Let’s just say that no one at the meeting of the SEC’s Advisory Committee on Small and Emerging Companies yesterday morning had anything nice to say about the SEC’s current disclosure regime, no matter where they sat—as a reporting company, as a banker, as an investor.  Particularly […]

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 […]