All SEC articles – Page 67
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Blog
Big 4 firms audit fewer companies, analysis shows
Big 4 firms are performing fewer public company audits as the number of public companies continues to decline, according to Audit Analytics.
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SEC charges Goldman Sachs VP in insider trading scheme
The SEC on May 31 charged a Goldman Sachs vice president of investment banking with repeatedly using his access to highly confidential information to place illicit and profitable trades in advance of deals on which the bank was providing investment banking advisory services.
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David Lynn rejoins Morrison & Foerster
David Lynn, former Chief Counsel of the SEC’s Division of Corporation Finance, has returned to global law firm Morrison & Foerster, rejoining the firm’s Corporate Department and Corporate Finance group.
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Legg Mason accrues $67M charge to earnings for FCPA matter
U.S. investment management firm Legg Mason disclosed in a securities filing on May 30 that it expects to soon complete negotiations with both the U.S. Department of Justice and the SEC to resolve a Foreign Corrupt Practices Act investigation.
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ArticleIn adopting lease rules, companies ponder materiality
As companies consider limited timeline remaining to adopt lease accounting rules, materiality discussions are helping to prioritize the workload.
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SEC names chief risk and strategy officer of the OCIE
The SEC has named James Reese as chief risk and strategy officer of the agency’s Office of Compliance Inspections and Examinations. Reese has served as acting chief since February 2017.
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System, identification issues complicate lease adoption
Companies are telling the SEC they are still having trouble getting IT systems in place that can put leases on corporate balance sheets as required in 2019.
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Chief compliance officer, two broker-dealers charged with AML offenses
The Securities and Exchange Commission on May 16 announced that it settled charges against broker-dealers Chardan Capital Markets and Industrial and Commercial Bank of China Financial Services for failing to report suspicious sales of billions of penny stock shares. Chardan’s chief compliance officer was also charged.
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Article
SEC: Forget ‘broken windows’ policy of the past
Moving away from a past focus on minor infractions, SEC Chairman Jay Clayton wants his enforcement division to buckle down on bigger matters.
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ArticleD&B shows the right way to handle an FCPA probe
The D&B enforcement action should be studied by every compliance practitioner for tips on preventing an FCPA issue and what to do if you find one.
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Experts spotlight trends in FCPA self-disclosures and enforcement
Current and former enforcement officials took part in a candid debate last week about the real-world implications of recent pronouncements made by the Department of Justice and how directors and officers are responding.
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Best practices from SEC enforcement official on Wells meeting communication
Prudent defense counsel will want to heed the advice of SEC Co-Director of the Division of Enforcement Steven Peikin, who discussed in broad detail what best-practice techniques make for productive and effective communication with SEC staff during Wells meetings.
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IOSCO promotes audit quality via audit committee oversight
Securities regulators globally are troubled enough by the state of audit quality that they are developing a white paper to promote better audit committee oversight.
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Article
SEC proposes change to auditor independence rules
The SEC is looking to dial back strict requirements on auditors that have made it difficult for Big 4 firms to assert their independence on certain big engagements.
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As lease rules advance, companies need to alert investors
Lease accounting is the next big accounting change on deck, and companies should be prepared to give investors plenty of advance notice on what to expect.
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Article
Trump’s picks for SEC slowly set their agenda
SEC Chairman Jay Clayton and relatively new Commissioners Robert Jackson and Hester Peirce are starting to pick their battles and set priorities.
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Article
Lessons to be learned from first declination under new FCPA policy
The first declination under the new FCPA Corporate Enforcement Policy is not exactly a home run, but it does offer compliance officers a litany of considerations in addressing FCPA matters of their own.
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SEC proposes amending auditor independence rules
The SEC is proposing changes to its auditor independence rules to relax limitations that made compliance with loan provisions virtually impossible.
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Blog
Auditor tenure is ‘reference point,’ SEC's Bricker says
Auditor tenures are beginning to appear in public company filings, giving investors new insight into how embedded firms are at their various public company clients.
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Article
Revenue judgments about to go under the microscope
As they file their first 10-Qs under new revenue rules, companies may find their judgments will face a whole new round of scrutiny in the very next quarter.