Tag: SEC
Court dismisses case to compel SEC to act on rulemaking petition for corporate political spending disclosure
by Cydney Posner As noted in Law360, a DC District Court has granted the SEC’s motion to dismiss a complaint filed to compel the SEC to act on a rulemaking petition regarding corporate political spending disclosure. Of course, as discussed in this PubCo post, a provision prohibiting the SEC from […]
Bipartisan Senate bill introduced to require public companies to increase transparency regarding board oversight of cybersecurity risks
by Cydney Posner Senators Jack Reed and Susan Collins have introduced the bipartisan Cybersecurity Disclosure Act of 2015, a bill to promote transparency in the oversight of cybersecurity risks at publicly traded companies. According to the press release, the bill is designed to ensure that public companies “provide a basic […]
SEC staff report on review of “accredited investor” definition
by Cydney Posner Today, the SEC issued a staff report, required under Dodd-Frank, on the staff’s review of the accredited investor definition. The purpose of the accredited investor concept is to identify, using a bright-line definition, “those persons whose financial sophistication and ability to sustain the risk of loss of investment […]
Politico reports: prohibition on corporate political spending disclosure a sticking point in omnibus spending bill negotiations
by Cydney Posner According to Politico (subscription required), a “provision to prohibit the SEC from requiring companies to disclose their political campaign contributions is one of the last sticking points in the omnibus spending package, two sources said.” One of bill’s negotiators said there were a few sticking points remaining, one […]
PCAOB adopts rule requiring audit engagement partners to be named on new Form AP
by Cydney Posner At an open meeting this morning, the PCAOB voted to adopt new rules requiring audit firms to disclose, on new PCAOB Form AP — Auditor Reporting of Certain Audit Participants, the name of the audit engagement partner. The form will also disclose the names, locations and extent […]
SEC proposes new resource extraction disclosure rules — will they face another legal challenge?
by Cydney Posner This morning, the SEC voted (with Commissioner Piwowar in dissent) to propose rules, mandated by Section 1504 of the Dodd-Frank, that would require disclosure on Form SD of certain payments made to the federal and foreign governments by resource extraction issuers in connection with commercial development of oil, […]
Corp Fin “announcement” provides some guidance on changes resulting from the FAST Act (repaired)
by Cydney Posner On December 10, 2015, Corp Fin issued an announcement highlighting changes in the securities laws resulting from the FAST Act. As previously discussed in this PubCo post, this transportation bill contains several measures that modify the JOBS Act or otherwise relate to capital raising for emerging growth companies, disclosure modernization, the […]
President signs FAST Act (updated December 10, 2015)
by Cydney Posner The President has signed the FAST Act into law. As previously discussed, this transportation bill contains several measures that modify the JOBS Act or otherwise relate to capital raising for emerging growth companies, disclosure modernization, the development of secondary markets and the registration process for smaller companies. On […]
Senate passes FAST Act
by Cydney Posner The Hill is reporting that the “Senate approved a five-year, $305 billion highway bill [the FAST Act] Thursday, sending it to President Obama with just one day to spare before the scheduled expiration of the nation’s road and transit spending. The measure passed by a 83-16 tally, […]
FAST Act passes House
by Cydney Posner Reuters reports: “In a show of Congressional bipartisanship, the House of Representatives voted 359 to 65 to send the $305 billion legislation [the FAST Act] to the Senate. It is widely expected to be approved and forwarded to the White House for President Barack Obama’s signature before […]
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