From the Archive

In the wake of more rigorous governance compliance and increased disclosure requirements, companies can expect the cost of being public to increase by nearly 100 percent, depending on their size. Estimated costs for middle-market companies, some listed at right, include increased accounting and legal fees, according to the law firm of Foley Lardner, which conducted […]

On April 24, the Securities and Exchange Commission voted to require that reports by insiders disclosing their securities holdings be filed electronically with the SEC. Filing and Posting The Commission voted to mandate the electronic filing of beneficial ownership reports filed by officers, directors and principal security holders under Section 16(a) of the Securities Exchange […]

Most companies with calendar year-ends are knee deep — or more — in drafting their Form 10-Ks and proxy statements. In light of the incredible level of SEC rulemaking during the past year, it is wise to double-check your set of rules and regulations to ensure they are complete and up-to-date. Romanek Among other new […]

Section 306(a) of the Sarbanes-Oxley Act of 2002 prohibits any director or executive officer of an issuer from, directly or indirectly, purchasing, selling or otherwise acquiring or transferring any equity security of the issuer during a pension plan blackout period that prevents plan participants and beneficiaries from engaging in transactions involving issuer equity securities held […]

On Sept. 5, the SEC adopted amendments to accelerate the filing of quarterly and annual reports under the Securities Exchange Act of 1934. Details are outlined below: REFERENCE Title Acceleration of Periodic Report Filing Dates and Disclosure Concerning Website Access to Reports File Number S7-08-02 Release Number 33-8128 Complete Text Complete text of the proposed […]

On July 30, the Sarbanes-Oxley Act of 2002 was enacted. The act included a certification requirement that was different from the initial certification proposal outlined by the SEC on June 17. Below are some of the changes to the proposal, which the SEC must issue and adopt by Aug. 29: REFERENCE Title Certification of Disclosure […]

On June 12, the SEC proposed rules that would force CEOs to “personally vouch” for their companies’ public disclosures, and would increase the number of items to be reported in current reports (Form 8-K). Those current reports would also need to be filed within two business days, instead of the current five to 15 business […]

The SEC has finalized rules aimed at improving the disclosure of equity compensation plans, thereby helping investors make better-informed decisions. The rules will enhance disclosure of the number of outstanding options, warrants and rights granted to participants, as well as the number of securities remaining available for future issuance under these plans. REFERENCE Title Disclosure […]