A new EDGAR form, called IRANNOTICE, will be introduced by the Securities and Exchange Commission on Jan. 14 to satisfy reporting requirements mandated by the Iran Threat Reduction and Syria Human Rights Act of 2012.
Signed into law by President Barack Obama in August, the Act extends existing sanctions against Iran and Syria to foreign subsidiaries owned or controlled by U.S. companies and establishes civil penalties. Section 219 of the Act also amends Section 13 of the Exchange Act to add new subsection (r), which requires disclosure if an entity or its affiliates knowingly engaged in forbidden activities.
