On September 27, 2023, the Enforcement Division announced settled enforcement orders against six individuals and five companies based on Section 16 and Forms 13D and 13G reporting failures. The individuals and companies paid fines ranging from $115,000 to $200,000. Sanja
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Yes, Violating Whistleblower Protection Rules Is an Enforcement Hot Topic!
In a prior blog post, we reviewed a September 8, 2023, Enforcement Order against Monolith Resources, LLC based on the company violating the SEC’s whistleblower protection rules.
Less than two weeks later, on September 19, 2023, the Enforcement Division
Another Violation of Whistleblower Protection Rules
The SEC has enforced against several companies for including clauses in separation or employment agreements that violate whistleblower protection laws. You can read more in these releases about settled actions with KBR, Inc. and Brink’s Company.
In a
Another 12b-25 Enforcement Sweep
We’d like to again remind our readers that Form 12b-25 is not an automatic extension for quarterly and annual reports. In a prior blog post, we discussed an enforcement sweep in which eight companies paid fines for failing to
Chair Gensler Climate Disclosure Testimony Before the Senate Committee on Banking, Housing, and Urban Affairs
On September 12, 2023, SEC Chair Gary Gensler testified before the Senate Committee on Banking, Housing, and Urban Affairs. His testimony touched on a wide range of issues including new rules affecting private funds, new cybersecurity disclosures and these comments
CorpFin Issues Sample Letter to Companies Focused on XBRL Disclosures
On September 7, 2023, CorpFin issued a Sample Letter to Companies addressing several XBRL issues. In the letter the staff states:
“The Commission has noted that investors and market participants have gained experience with XBRL and Inline XBRL and that
More C&DIs From CorpFin – Form F-SR
On August 30, 2023, CorpFin issued three Exchange Act Form C&DIs addressing questions arising from the new Form F-SR, which will be used by foreign private issuers (FPIs) to report share repurchases. Form F-SR is the first formal quarterly reporting
FASB Projects Progressing
In this post from May 2023, we overviewed four FASB projects that will likely require significant implementation efforts. These coming new standards will require new disclosures that will involve system and reporting complexities. The four projects are:
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- Segment Reporting,
New Insider Trading Plan C&DIs and a Tip for Keeping Up with CorpFin Developments
Focus on SEC Comments – Don’t Forget Long-Term Liquidity and Capital Resources Disclosures
On April 8, 2021, King Pubco, Inc. filed a Form S-4 in connection with a fairly complex de-SPACing transaction. The substance of this transaction was that a SPAC, Cerberus Telecom Acquisition Corp., was merging with an operating company, Maple Holdings.