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The Filing Cabinet

"The Filing Cabinet," which covers compliance with the Dodd-Frank Act and the Sarbanes-Oxley Act, as well as other regulatory action from the Securities and Exchange Commission, executive compensation, and shareholder activism, is written by CW staff writer Joe Mont. Mont welcomes questions, comments, and statements from readers on SEC filing matters and will address them here when appropriate. Readers can contact him at joe.mont@complianceweek.com.
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The Filing Cabinet Blog
Court Gives SEC Another Chance to Defend Conflict Minerals Rule
Joe Mont | November 18, 2014
The court that struck down parts of the SEC’s conflict minerals disclosure rule has agreed to give the agency another chance to make its case. The U.S. Court of Appeals for the District of Columbia said it will permit the SEC to file a supplemental brief, setting the stage for a rehearing of an April 2014 decision that scaled back conflict minerals disclosure demands amid First Amendment concerns. The Commission has 20 days to submit a new brief.
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The Filing Cabinet Blog
SEC Disclosure Simplification Bill Approved in House
Joe Mont | December 4, 2014
A bill intended to help public companies streamline their disclosures has been unanimously approved by the House of Representatives. The Disclosure Modernization and Simplification Act, sponsored by Rep. Scott Garrett (R-N.J.), allows issuers to submit a summary page on annual Form 10-K filings. It also gives the SEC a 180-day deadline to complete its ongoing review of disclosure requirements.
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The Filing Cabinet Blog
XBRL Filings to Be Converted Into New Public Databases
Joe Mont | December 31, 2014
The SEC has announced the launch of a pilot program that will consolidate financial statements submitted by public companies using XBRL into databases that can be readily accessed by the public. The data sets, including financial statement data from XBRL filings, will be expanded in 2015 to include data in footnotes to financial statements.
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The Filing Cabinet Blog
SEC Speaks on Graphics, Multimedia in Filings
Joe Mont | January 27, 2015
The SEC is offering guidance on how companies can use charts, graphics, and even multimedia files in corporate filings to tell your story in fewer words. All well and good, says a new Compliance and Disclosure Interpretation from the Division of Corporation Finance. It warns, however, that required information must be included as searchable text or in a searchable table within the filing.
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The Filing Cabinet Blog
SEC Seeks New Disclosures When Directors Hedge Securities
Joe Mont | February 9, 2015
A rule proposed by the Securities and Exchange Commission on Monday would require companies to disclose policies that allow directors and employees to hedge securities awarded as part of a compensation package. The intent is to inform shareholders if executives are permitted to purchase financial instruments that allow them to receive their compensation even if the firm’s performance fails to meet expectations.
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The Filing Cabinet Blog
Pension Funds Ask SEC for Board Diversity Rule
Joe Mont | April 1, 2015
A coalition of state treasurers and pension funds has petitioned the SEC for new disclosure requirements on board diversity. They want a new rule that adds gender, racial, and ethnic diversity data to current disclosures dictated by Regulation S-K, which only requires companies to identify the minimum skills, experiences, and attributes that board candidates and nominees should have. More inside.
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The Filing Cabinet Blog
Ding, Dong: EDGAR Fraud Calling
Joe Mont | May 15, 2015
On May 14, PTG Capital Partners, a London-based investment firm, disclosed in a regulatory filing on the Securities and Exchange Commission’s EDGAR system that it offered to buy Avon for $18.75 a share. The firm, however is fictitious, raising questions of how EDGAR was gamed and why the filing was still posted as of Friday morning. Details inside.
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The Filing Cabinet Blog
Senator Presses SEC on Fake EDGAR Filings
Joe Mont | May 29, 2015
In a letter to SEC Chair Mary Jo White, Sen. Chuck Grassley (R-Iowa) demanded more information about fake filings, including a fictitious Avon takeover bid, that somehow make their way onto the agency’s EDGAR system. “This pattern of fraudulent conduct is troubling, especially in light of the relative ease in which a fake posting can be made,” he wrote. Details inside.
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The Filing Cabinet Blog
Tips on Building a Better, User-Friendly EDGAR
Joe Mont | May 29, 2015
A slew of business groups, from the Center for Audit Quality to the U.S. Chamber of Commerce and others, have voiced their collective opinion on how the SEC can improve the EDGAR filing process. Their top recommendations were search improvements and the ability to download data in multiple formats. See inside for their other suggestions.
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The Filing Cabinet Blog
Piwowar Takes Second Shot at Pay Ratio Rule
Matt Kelly | August 9, 2015
SEC Commissioner Michael Piwowar has taken the rare step of publishing a second statement opposing the newly adopted pay ratio disclosure rule (not to be confused with his first statement of outrage last week). The length and tone of the statement add fuel to the theory that his criticisms will become the blueprint for a lawsuit by other opponents of the rule. More inside.
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The Filing Cabinet Blog
SEC proposes modernizing mining company disclosures
Joe Mont | June 16, 2016
The latest step toward disclosure effectiveness: The SEC has proposed rules to modernize disclosure requirements for mining registrants and align them with global standards. The rules would rescind Industry Guide 7 and include the updated mining property disclosure requirements in a new subpart of Regulation S-K. More from Joe Mont.
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The Filing Cabinet Blog
CFTC opens public review of swaps data reporting
Joe Mont | July 14, 2017
The CFTC has announced it is seeking public comments as it embarks on a comprehensive review of swaps data reporting requirements.
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The Filing Cabinet Blog
SEC offers relief, deadline extensions for hurricane victims
Joe Mont | October 2, 2017
The SEC is providing regulatory relief to publicly traded companies and others unable to meet filing requirements due to hurricane damage and mail disruptions.
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The Filing Cabinet Blog
SEC releases update to cyber-security disclosure guidance
Joe Mont | February 23, 2018
The SEC has released updated cyber-security disclosure guidance. Chairman Jay Clayton says the guidance “will promote clearer and more robust disclosure by companies about cyber-security risks and incidents, resulting in more complete information being available to investors.”
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The Filing Cabinet Blog
Voya advisers settle SEC charges they failed to disclose securities lending conflict
Joe Mont | March 12, 2018
The SEC has charged investment adviser subsidiaries of Voya Holdings with failing to disclose conflicts of interest. They were also acused of misleading disclosures in connection with their practice of recalling securities on loan so affiliates could receive tax benefits.
Displaying 15 results