On Feb. 14, the Securities and Exchange Commission sent a message to public companies on the need for full disclosure when filing a “Notification of Late Filing” form. The SEC brought a case against Forth Worth, Texas-based FFP Marketing Company, its former CFO, and its former controller, for poor disclosure related to the filing of the form (known as Form 12b-25).
“Any kind of public statement that is false and misleading is of interest to the [SEC] Staff,” said Alan Buie, SEC Enforcement assistant district administrator. “It’s a Staff position that this is a disclosure document.”
