All SEC articles – Page 63
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BlogSEC, Congress seek better diversity disclosures
The SEC has issued new guidance regarding diversity disclosures. Meanwhile, newly proposed legislation would require public companies to annually disclose the gender, race, and veteran status of their board directors, nominees, and senior executive officers.
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ArticleSEC once again dragged into fight over mandatory arbitration
The SEC was spared setting mandatory arbitration policy when New Jersey’s attorney general argued a shareholder initiative proposed for Johnson & Johnson would be illegal.
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SEC charges former senior attorney at Apple with insider trading
The Securities and Exchange Commission today filed insider trading charges against a former senior attorney at Apple whose duties included executing the company’s insider trading compliance efforts.
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Deloitte Japan settles $2 million independence charge
Deloitte Japan has agreed to a $2 million penalty to settle charges with the SEC over auditor independence violations.
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Court orders $1B judgment against operators of Woodbridge Ponzi scheme
A federal court in Florida has ordered Woodbridge Group of Companies and its former owner to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors.
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Companies adjust revenue disclosures, grapple costs
Companies are changing their revenue recognition approach as they move from quarter to quarter, and they’re tallying higher-than-expected costs, poll says
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IOSCO report gives marching orders to audit committees
Securities regulators globally have banded together to call on audit committees to take a fresh look at their role in promoting and supporting quality audits.
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SEC settles with 4 companies over prolonged control lapses
Apparently thumbing their noses at internal control requirements, four public companies have now settled charges with the SEC over prolonged failures to maintain ICFR.
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SEC starts slow post-shutdown process of returning to normalcy
As the government reopens after a month-long shutdown, the SEC is among the agencies returning to normal operations. Companies, however, should expect to vie for assistance on a "first come, first served" basis.
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EY forms independent audit quality committee
EY has joined the rest of the Big Four in seeking independent consult on audit quality, forming a committee of outside experts to advise firm leaders.
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When earnings precede audit, auditors cave, study finds
Absent a strong audit committee, management can get an upper hand over auditors when it releases unaudited earnings results to the market, a new study says.
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ArticleShutdown starts to pose new risks for businesses
The longest government shutdown in U.S. history is increasingly a catalyst for new risks and tough choices for corporations.
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Restatements declined with adjustments, analysis shows
As restatements numbers have fallen in recent years, so too have out-of-period adjustments, according to a recent analysis by Audit Analytics.
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Article
SEC faces lawsuit over ‘gag orders’ in enforcement settlements
The Cato Institute, a libertarian think tank, is suing the SEC over the mandatory “gag orders” it has added to its enforcement-based settlement agreements for nearly 40 years.
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ArticleLIBOR death knell tolls compliance, accounting issues
The slow death of a critical benchmark interest rate will produce a series of compliance headaches for companies stretching over the next few years.
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SEC fines company over non-GAAP prominence issue
Still on its soap box over non-GAAP reporting, the SEC issued an enforcement action against home security company ADT focused on problems with prominence.
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Comment letters show SEC forced restatement on ASC 606
After a 15-part comment letter exchange with the SEC over its compliance with new revenue recognition rules, Kingsway Financial Services opted to restate.
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Department of Justice closes FCPA probe into Ciena
Telecommunications company Ciena disclosed in its latest annual report that the Department of Justice advised the company that it has decided not to file any charges against it in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.
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As government shutdown drags on, SEC offers guidance
Concerned about how the government shutdown will affect the SEC and filing obligations? The agency is offering several resources to provide some much-needed guidance.
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Hertz to pay $16M civil penalty for accounting violations
Car rental company Hertz Global Holdings will pay a $16 million civil penalty to settle a case concerning inaccurate financial reporting, the Securities and Exchange Commission announced in an order filed Dec. 31.