In connection with the upcoming Form 10-K/proxy season, public companies with a fiscal year ending on December 31 will be required, for the first time, to publicly file their insider trading policies as exhibits to their Annual Report on Form 10-K pursuant to Item 408(b) of Regulation S-K. Prior to this SEC rules requirement, it was fairly uncommon for public companies to make their insider trading policies publicly available (on a voluntary basis). Continue Reading The Time is Here: Public Companies Should be Mindful of the Upcoming Insider Trading Policy Form 10-K Exhibit Filing Requirement
SEC Guidance
Just In! More Guidance on Material Cybersecurity Incidents (Item 1.05 of Form 8-K)
By Sehrish Siddiqui on
On June 24, the Securities and Exchange Commission (SEC) released five additional Compliance and Disclosure Interpretations for Item 1.05 of Form 8-K (Material Cybersecurity Incidents). These interpretations provide additional guidance as to whether and when materiality determinations should be made and when related reporting obligations arise. Continue Reading Just In! More Guidance on Material Cybersecurity Incidents (Item 1.05 of Form 8-K)
Certain Members of Congress Urge SEC to Enforce Existing Climate Disclosure Rules During Litigation
By Sehrish Siddiqui on
Earlier this month, 38 Congressional Democrats (10 Senators; 28 Representatives) sent a letter to Chairman Gary Gensler of the Securities & Exchange Commission (SEC), urging the SEC to robustly enforce its existing rules and climate disclosure-related guidance while the recent climate disclosure rules are under litigation and a related stay.Continue Reading Certain Members of Congress Urge SEC to Enforce Existing Climate Disclosure Rules During Litigation
Update on Litigation Timeline of SEC’s Climate Disclosure Rules
By Sehrish Siddiqui on
We previously blogged about the final climate disclosure rules, and how the Securities and Exchange Commission (SEC) voluntarily stayed implementation of the final rules pending the completion of judicial review of the consolidated Eighth Circuit cases. Continue Reading Update on Litigation Timeline of SEC’s Climate Disclosure Rules
T+1 = Here We Come!
By Sehrish Siddiqui on
Posted in Regulation Changes, SEC Guidance
On February 15, 2023, the Securities and Exchange Commission (SEC) adopted a set of rule amendments and new rules to facilitate the shortening of the standard settlement cycle for most broker-dealer transactions from two business days after the trade date (or T+2) to one business day after the trade date (or T+1). Continue Reading T+1 = Here We Come!
Embattled SEC Climate Disclosure Rule
By Sehrish Siddiqui on
I was recently quoted in Corporate Compliance Insights sharing perspective on the new climate disclosure rules issued in March 2024 by the Securities Exchange Commission (SEC). The SEC voluntarily stayed the new rules while the Court of Appeals for the Eighth Circuit completes judicial review of consolidated challenges to the new rules.Continue Reading Embattled SEC Climate Disclosure Rule
SEC Voluntarily Pauses Implementation of Climate Disclosure Rules Amid Legal Challenges
By Sehrish Siddiqui on
Posted in Disclosure, SEC Guidance
Today, the Securities Exchange Commission (SEC) voluntarily stayed its recently issued Climate Disclosure Rules. Continue Reading SEC Voluntarily Pauses Implementation of Climate Disclosure Rules Amid Legal Challenges
Update on SEC Climate Change Rules
By Sehrish Siddiqui & Eric Knox on
Posted in Disclosure, SEC Guidance
In a never ending saga to the climate disclosure rules, on March 15, the Fifth Circuit temporarily stayed the recently adopted climate change disclosure rules. Continue Reading Update on SEC Climate Change Rules
The SEC Finally Adopts Climate Change Disclosure Rules: Making Sense of 800+ Pages
By Sehrish Siddiqui, Scott Bell & Kevin Douglas on
Posted in Disclosure, SEC Guidance
After almost two years following its proposed rules, on March 6, 2024, the Securities and Exchange Commission (SEC) adopted final rules to require public companies to disclose certain climate-related information in registration statements and annual reports.Continue Reading The SEC Finally Adopts Climate Change Disclosure Rules: Making Sense of 800+ Pages
SEC Settlement with Audit Firm Serves as Reminder of Important Independence Rules
By Jonathan Stanley & Bradley Yenter on
Posted in SEC Guidance
On February 29, the Securities and Exchange Commission (the SEC) announced that it settled an administrative proceeding against Lordstown Motors Corps’ former auditor, Clark Schaefer Hackett and Co. (CSH)—the same day that the SEC also announced charges against Lordstown for misleading investors about the sales prospects of its flagship electric pickup truck, the Endurance.Continue Reading SEC Settlement with Audit Firm Serves as Reminder of Important Independence Rules