The SEC will reopen, for an additional 30 days, the comment period for rule changes tagged onto lifting the longstanding ban on general solicitation in private securities offerings. On July 10, the SEC adopted a rule to implement the Jumpstart Our Business Startups Act (JOBS Act) requirement to lift the ban on general solicitation and […]
Data Privacy
Posted inData Privacy
FTC Stakes Claim as the New Sherriff for Big Data
It is no secret that “Big Data” offers revolutionary potential for companies, and already many are pushing the limits with more targeted marketing and customer intelligence gathering. Now the Federal Trade Commission is working to carve out a role as the protector of consumer privacy as companies ramp up those Big Data efforts. In an […]
Posted inData Privacy
Private Securities Offerings Just Got a Lot Less Private
It will soon be a lot easier for investment funds and companies to raise money from the general public through private securities offerings. But hold on, there’s a catch. On July 10, the Securities and Exchange Commission adopted a long-awaited rule that implements a JOBS Act requirement lifting the ban on general solicitation and advertising for private securities offerings. But the SEC attached plenty […]
Posted inData Privacy
Private Companies Win FASB Endorsement of Changes
Private companies are starting to win the accounting exceptions and accommodations they have sought as the Financial Accounting Standards Board endorses three “alternative” accounting proposals put forth by its Private Company Council. FASB plans to publish three proposed updates to accounting standards in late June that would give private companies exceptions to Generally Accepted Accounting […]
Posted inAccounting & Auditing
FASB, PCC Call for Views on Private Company Rules
The Financial Accounting Standards Board is asking again for views on how it should develop differences in accounting standards for private companies compared with public companies. FASB and its Private Company Council have published a second “invitation to comment” on their proposed framework for how the two groups would go about deciding when and where […]
Posted inData Privacy
Delayed Privacy Rules Put Healthcare Companies in a Bind
That toe-tapping you hear is the sound of healthcare compliance officers growing impatient over the long delay to finalize changes to the Health Insurance Portability and Accountability Act’s (HIPAA) privacy and securities rules. The pending rules date back to February 2009, when Congress enacted the HITECH Act in response to the growing reliance of IT […]
Posted inData Privacy
FASB Extends Comment Time on Key Proposals
With many in the Northeast still struggling to get back to business after Hurricane Sandy, the Financial Accounting Standards Board is extending its comment period for two key proposals. FASB is allowing anyone with comments on its proposed disclosure framework to take through Nov. 30 to submit comments, adding two weeks to the original Nov. […]
Posted inData Privacy
Group Emerges to Develop Big Data Privacy Standards
Companies are just starting to consider how to unlock the massive potential of Big Data—the enormous and variant streams of information they are capturing, coupled with sophisticated tools to analyze them—and how to avoid the privacy and data security risks that come with it. Soon they’ll have help. The newly launched Big Data Working Group […]
Posted inData Privacy
FASB Floats Early Ideas on Private-Company Accounting
If private companies should have different accounting standards, the Financial Accounting Standards Board is looking for ideas on how those differences should be established. FASB published some early ideas for how financial reporting requirements should be differentiated for private companies, and it is looking for feedback on that preliminary thinking before moving to the next […]
