News & Analysis as of

Financial Statements Compliance Securities and Exchange Commission (SEC)

Skadden, Arps, Slate, Meagher & Flom LLP

2026 SEC Filing Deadlines and Financial Statement Staleness Dates

Our guide to 2026 SEC filing deadlines and financial statement staleness dates (including a color-coded calendar) is now available. Public companies should factor in these key reporting deadlines, disclosure obligations and...more

Cooley LLP

SEC charges Entergy with violation of internal accounting controls requirements

Cooley LLP on

At the end of last year, the SEC announced settled charges against Entergy Corporation, a Louisiana-based utility company with shares traded on the NYSE, for failure to maintain internal accounting controls adequate to ensure...more

DarrowEverett LLP

The Heat Is On SEC’s Climate-Related Disclosure Rules

DarrowEverett LLP on

On March 6, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted new final rules requiring issuers to include extensive disclosure in registration statements and periodic reports regarding material...more

Latham & Watkins LLP

SEC Adopts Climate-Related Disclosure Rules

Latham & Watkins LLP on

On March 6,2024, in a 3-2 vote, the US Securities and Exchange Commission adopted final rules requiring registrants to disclose certain climate-related information in registration statements and annual reports....more

Snell & Wilmer

SEC Revises (and Weakens) Climate Disclosure Rules

Snell & Wilmer on

On March 6, 2024, the U.S. Securities and Exchange Commission (SEC) adopted final climate disclosure rules sparking a range of reactions within the business and environmental communities. These changes represent a significant...more

Seward & Kissel LLP

SEC Adopts Climate-Related Disclosure Regulations

Seward & Kissel LLP on

On March 6, 2024, the Securities and Exchange Commission (SEC) adopted new rules that increase public company reporting requirements regarding climate change.  The new rules, which the SEC originally proposed in March 2022,...more

Goodwin

SEC Sends Second Message to Private-Fund Sponsors on Audit Obligations Under Custody Rule Through Enforcement Actions

Goodwin on

On September 5, 2023, almost one year since its first flurry of similar Custody Rule actions,  the SEC announced settlements with five SEC-registered investment advisers to private funds with respect to alleged violations of...more

Holland & Knight LLP

Summary and Early Analysis of New SEC Private Fund Rules

Holland & Knight LLP on

The U.S. Securities and Exchange Commission (SEC) on Aug. 23, 2023, adopted the long-awaited private fund rules (Private Fund Rules) under the Investment Advisers Act of 1940 (Advisers Act) as part of SEC Release No. IA-6383...more

Freiberger Haber LLP

Securities Act Claims Dismissed as Time-Barred and Otherwise Insufficient

Freiberger Haber LLP on

On March 20, 2018, the United States Supreme Court decided Cyan, Inc. v. Beaver County Employees Retirement Fund, in which it unanimously held that the Securities Litigation Uniform Standards Act of 1998 does not strip state...more

Kohrman Jackson & Krantz LLP

SEC Increases Oversight of Investment Advisers to Private Equity Funds and Hedge Funds with New Rules

SEC APPROVES NEW RULES IMPACTING INVESTMENT ADVISERS AND FUNDS - On Wednesday, August 23, 2023, the Securities and Exchange Commission (SEC) voted 3-2 along party lines to approve new rules and rule amendments under the...more

Eversheds Sutherland (US) LLP

SEC seeks to finalize highly controversial private fund adviser ruleset - What we are looking out for

The US Securities and Exchange Commission (SEC) is holding an open meeting this Wednesday, August 23, to consider whether to adopt proposed rules under the Investment Advisers Act of 1940 that, if adopted as proposed, would...more

Fenwick & West LLP

SEC Adopts ‘Clawback’ Rules for Executive Compensation

Fenwick & West LLP on

On October 26, 2022, the Securities and Exchange Commission (SEC) adopted rules directing the national securities exchanges to create listing standards requiring listed companies to develop and implement policies that...more

WilmerHale

SEC Acting Chief Accountant Cautions Against “Checklist Compliance” Approach to Auditor Independence

WilmerHale on

SEC Acting Chief Accountant Paul Munter re-emphasized the SEC’s focus on auditor independence in his June 8 statement on “The Critical Importance of the General Standard of Auditor Independence and an Ethical Culture for the...more

ArentFox Schiff

Five Initial Takeaways from the SEC’s Proposed Rules Requiring Companies to Disclose Climate Risks and GHG Emissions Data

ArentFox Schiff on

On March 21, the U.S. Securities Exchange Commission (SEC) proposed far-reaching climate-related disclosure rules for public companies that do business in the United States. In a 3-1 vote, the SEC proposed rules that would...more

White & Case LLP

Key Considerations for the 2022 Annual Reporting Season: Form 20-F and Other FPI-Specific Considerations

White & Case LLP on

This memorandum outlines key considerations from White & Case's Public Company Advisory Group for foreign private issuers ("FPIs") during the 2022 annual reporting season. This memo describes our key considerations for...more

Foley Hoag LLP

SEC Brings First Enforcement Action Against Issuer for Disclosures About Financial Effects of COVID-19

Foley Hoag LLP on

On December 4, 2020, the SEC brought its first case charging a public company, The Cheesecake Factory, with making misleading disclosures about the effects of COVID-19 on its business operations and financial condition. The...more

Thomas Fox - Compliance Evangelist

Welcome of 31 Days to a More Effective Compliance Program for September – Internal Controls

It is a new month and a new topic for 31 Days to a More Effective Compliance Program. In September, I will consider internal controls. I am pleased to welcome back Affiliated Monitors, Inc. (AMI) as this month’s sponsor of...more

Jones Day

SEC Enforcement in Financial Reporting and Disclosure: 2020 Mid-Year Update

Jones Day on

We are pleased to present our annual mid-year update on financial reporting and issuer disclosure enforcement activity for 2020. This White Paper focuses on the U.S. Securities and Exchange Commission's ("SEC") enforcement...more

Proskauer - The Capital Commitment

SEC clamps down on Custody Rule

Under rule 206(4)-2 of the Advisers Act, otherwise known as the Custody Rule, it is a fraudulent practice for a registered investment adviser to have custody of client funds or securities, unless the adviser takes certain...more

Skadden, Arps, Slate, Meagher & Flom LLP

Form 20-F for Fiscal Year 2019: What Foreign Private Issuers Should Keep in Mind

There have been significant recent developments in U.S. Securities and Exchange Commission (SEC) regulation of foreign private issuers, (FPIs) including changes that impact the annual report on Form 20-F for fiscal year 2019....more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - June 2019

In the inaugural issue of Investment Management Update, we summarize regulatory, litigation and industry developments from February 2019 to May 2019 impacting the investment management sector....more

White & Case LLP

SEC Adopts Amendments to Modernize and Simplify Disclosure Requirements - And Provides Guidance on the Significantly Streamlined...

White & Case LLP on

On March 20, 2019, the SEC voted to adopt amendments to modernize and simplify disclosure requirements for public companies, investment advisers, and investment companies. The amended rules, which are based on amendments...more

Latham & Watkins LLP

The Latham FPI Guide: Accessing the US Capital Markets From Outside the United States

Latham & Watkins LLP on

Fabry-Pérot Interferometer, SA is a highly successful non-US company known to the world as FPI. FPI is considering doing a debt or equity offering in the United States. What are the key legal issues it, and its underwriters...more

Thomas Fox - Compliance Evangelist

Not Correctly Reporting Losses: An Internal Controls Failure

A recent Securities and Exchange Commission (SEC) internal controls enforcement action drew my attention. It was not a Foreign Corrupt Practices Act (FCPA) enforcement action but it certainly does have implications for a...more

Thomas Fox - Compliance Evangelist

Joe Howell on the PCAOB, Audits and Compliance – Part IV

This week I have been exploring the Public Accounting Oversight Board (PCAOB) with Joe Howell, an Executive Vice President (EVP) with Workiva Inc. We have considered how some of the issues addressed by the PCAOB directly...more

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