Latest from The SEC Institute Blog - Page 4

Last week we posted about PLI’s inSecurities Podcast, an enjoyable and positive way to spend time during this period of disruption and uncertainty.  Episode 6 of the Podcast delves into whistleblower issues, which ties in nicely to two recent SEC announcements.  First, on March 30, 2020, the SEC reinforced the importance of its whistleblower program in this press release announcing another major cash award to a whistleblower.  This is the SEC’s third case where…
On March 31, 2020 CorpFin issued two Compliance and Disclosure Interpretations to answer questions arising from its Order providing reporting relief for companies.  The C&DI’s deal with the interaction of Form 12b-25 and the provisions in the Order. Question 135.12 Question: A registrant expects that due to COVID-19 it will be unable to file a report of the type covered by Rule 12b-25 on a timely basis without incurring an unreasonable effort or expense. It is…
Coming to grips with how the uncertainty and disruption created by COVID-19 affects impairment testing will be a crucial part of this quarter-end.  To help SEC reporting professionals through this process, the SEC Institute Division of PLI will present a complimentary One-Hour Briefing – Impairment Testing Considerations for Quarter One in the 2020 Coronavirus Environment, on April 3, 2020 at 3 PM EDT. Leading the discussion will be SEC Institute workshop leaders Bob Laux…
An enjoyable and positive way to spend time during this period of disruption and uncertainty is listening to new podcasts.  Several weeks ago PLI launched the inSecurities Podcast, an in-depth podcast examining changes to securities rules, regulations, and cases from a practitioner’s perspective in both law and accounting.  The podcast is hosted by Chris Ekimoff, a forensic accountant, and Kurt Wolfe, a securities regulatory attorney.  They provide a wonderfully balanced and entertaining perspective on…
We always emphasize at our Workshops that all SEC filings require manual signatures.  Regulation S-T, the electronic filing rules, contains this provision: 232.302   Signatures. ………. (b) Each signatory to an electronic filing (including, without limitation, each signatory to the certifications required by §§240.13a-14, 240.15d-14 and 270.30a-2 of this chapter) shall manually sign a signature page or other document authenticating, acknowledging or otherwise adopting his or her signature that appears in typed form within the electronic…
On March 25, 2020 the SEC extended its March 4 Order granting deadline and annual meeting relief.  The relief period now includes reports due on or before July 1, 2020. In addition CorpFin also issued Disclosure Guidance Topic No. 9 –  Coronavirus (COVID-19). Both will be discussed in depth along with related disclosure and communication considerations in our complimentary One Hour Briefing on March 26, 2019 – COVID-19 Challenges for First Quarter 2020
Coming to grips with SEC reporting and other legal implications of COVID-19 is crucial in this period of uncertainty and disruption.  PLI, together with our volunteer faculty, has developed a number of programs to help in dealing with these implications, with more programs being added regularly. Also, all of these programs are being provided without charge. This Thursday, March 26, 2020, we are presenting a complimentary One-Hour Briefing at 3:00 PM EDT titled “COVID-19
On March 26, 2020 SEC Institute will present a complimentary One-Hour Briefing titled “COVID-19 Challenges for First Quarter 2020 Form 10-Q and Annual Meetings”. In this briefing participants will: Review the SEC’s guidance for COVID-19 disclosure considerations Discuss the details of the SEC’s deadline and reporting accommodations relating to COVID-19 Outline risk factor disclosure requirements as applied to COVID-19 Identify the need for known trend disclosures in MD&A about COVID-19’s possible impact List where COVID-19…
On March 13, 2020 the SEC issued guidance to “assist public companies, investment companies, shareholders, and other market participants affected by COVID-19 with their upcoming annual shareholder meetings”.  The staff guidance addresses changing meeting dates and locations as well as the use of technology for “virtual” meetings.  The guidance provides processes to make changes without the expense of an additional paper mailing to shareholders. You can find a comprehensive review of the SEC’s guidance and…
Even with the disruption of the coronavirus the SEC is moving forward with its regulatory agenda.  On March 12, 2020 the SEC finalized a significant part of this agenda by changing the definition of Accelerated Filer.  The rule finalized a proposal made on May 9, 2019. The Final Rule will be effective 30 days after publication in the Federal Register and applies to all filings due on or after the effective date. The major change…