Codifying what has become a common disclosure practice, the Securities and Exchange Commission has now required all public companies to disclose whether or not they have a policy or practice on transactions by directors or employees to hedge their exposure with respect to company equity securities and, if so, to describe it.
Read MoreAs a reminder, effective October 1, 2018, the new SEC filing fee rate for issuers is $121.20 per $1,000,000. The fee is calculated by multiplying the aggregate offering amount by .0001212 (Filing Fee = Maximum Aggregate Offering Price x Fee Rate).
Read MoreAs discussed in more detail in our QuickStudy (available here), on August 17, 2018 the Securities and Exchange Commission (the “SEC”) adopted numerous amendments to its disclosure requirements that were intended to simplify compliance for issuers by eliminating certain redundant, overlapping, outdated or superseded disclosure requirements (the “Disclosure Simplification Rules”).
Read MoreOn August 17, 2018, the U.S. Securities and Exchange Commission (the “SEC”) adopted amendments1 to certain disclosure requirements that have become redundant, overlapping, outdated or superseded in light of other SEC disclosure requirements, current accounting principles and standards under U.S. GAAP, and changes in the way information is accessed.
Read MoreOn July 18, the Securities and Exchange Commission adopted an amendment to Rule 701 increasing the threshold that triggers the Rule’s disclosure requirements. As background, Rule 701 provides an exemption from the registration requirements of the Securities Act for offers and sales of securities (including securities issuable under stock options and restricted stock units) by private companies (i.e., companies not subject to the reporting requirements under the Exchange Act) to their employees, officers, directors, consultants and advisors under compensatory benefit plans.
Read MoreOn June 28, 2018, the Securities and Exchange Commission voted to adopt amendments to its eXtensible Business Reporting Language (“XBRL”) requirements for operating companies and funds.1
Read MoreOn June 28, 2018, the U.S. Securities and Exchange Commission (“SEC”) adopted amendments to the definition of “smaller reporting company” (“SRC”) in order to expand the number of companies that qualify for certain existing scaled disclosure accommodations (the “Amendments”).1
Read MoreOn April 3, 2017, the D.C. District Court entered its final judgment in National Association of Manufacturers v. SEC holding that Section 1502 of Dodd-Frank and the SEC’s conflict minerals rule, Rule 13p-1 and Form SD thereunder, violate the First Amendment to the extent that a covered public company is required to report to the SEC and state on its website if any of its products “have not been found to be DRC conflict free”.
Read MoreOn March 1, 2017, the Securities and Exchange Commission (the “SEC”) adopted rule and form amendments (the “Amendments”) requiring registrants that file certain registration statements and periodic and current reports subject to the exhibit requirements under Item 601 of Regulation S-K to (i) include a hyperlink to each exhibit listed in the exhibit index of any such filing and (ii) submit such filings on EDGAR in HTML format instead of ASCII format (because ASCII does not support hyperlinks)1.
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