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Chief Accountant reminds lawyers that GAAP and not the ABA-auditor treaty governs loss contingency disclosure
- Holland & Knight LLP
- -
- USA
- -
- February 28 2011
At a recent New York Bar Association conference, Wayne Carnall, Chief Accountant of the SEC's Division of Corporation Finance, warned registrants to avoid relying on the long-standing ABA-auditor "treaty" between lawyers and auditors when deciding what to report about litigation contingencies in financial statements
SEC Division of Corporation Finance issues new CDIs on say on pay and golden parachute compensation
- Holland & Knight LLP
- -
- USA
- -
- February 28 2011
On February 11, 2011, the SEC's Division of Corporation Finance issued new Compliance and Disclosure Interpretations (CDIs) with respect to shareholder approval of executive compensation and to golden parachute compensation
Court of Chancery affirms validity of bylaw accelerating timing of annual meeting
- Holland & Knight LLP
- -
- USA
- -
- October 25 2010
In a case of first impression, the Delaware Court of Chancery considered the validity of a shareholder proposed bylaw amendment that would cause the company's annual meetings to be held in January of each year as opposed to August when the meetings have historically been held
PCAOB issues FAQs on audit firm annual reports and makes the reports publicly available
- Holland & Knight LLP
- -
- USA
- -
- July 12 2010
On June 18, 2010, the PCAOB issued Staff Questions and Answers regarding the requirements to file with the PCAOB Annual Reports on Form 2
SEC staff issued interpretations on change of accountants
- Holland & Knight LLP
- -
- USA
- -
- January 24 2011
On January 14, 2011, the Division of Corporation Finance issued new CDIs regarding change of accountants
SEC proposes rules requiring disclosure of incentive-based compensation arrangements at financial institutions
- Holland & Knight LLP
- -
- USA
- -
- March 14 2011
On March 2, 2011, the SEC proposed rules that require certain financial institutions to disclose the structure of their incentive-based compensation practices and prohibit such institutions from maintaining compensation practices that encourage inappropriate risks
SEC issues new Staff Accounting Bulletin Number 114
- Holland & Knight LLP
- -
- USA
- -
- March 14 2011
On March 7, 2011, the SEC's Office of the Chief Accountant and Division of Corporate Finance jointly issued Staff Accounting Bulletin (SAB) Number 114, which revises or rescinds portions of the interpretative guidance included in the codification of the SAB Series
SEC Commissioner Aguilar gives speech on board diversity
- Holland & Knight LLP
- -
- USA
- -
- April 11 2011
In his speech titled "Board Diversity: Why It Matters and How to Improve It," SEC Commissioner Luis A. Aguilar indicated there could be improvement in the disclosure provided by companies regarding board diversity, as newly required under the changes to Item 407 of Regulation S-K in late 2009
Second Circuit clarifies Section 10(b) duty to update and Rule 10b-5 pleading standard
- Holland & Knight LLP
- -
- USA
- -
- March 22 2010
On March 1, 2010, the Second Circuit Court of Appeals affirmed in part and vacated in part a securities class action brought against a company for failing to update investors concerning problems with an agreement with the United States Postal Service (USPS) to serve as the preferred provider of USPS's electronic postmark
Senator Dodd introduces new financial reform bill
- Holland & Knight LLP
- -
- USA
- -
- March 22 2010
On March 15, 2010, Senator Dodd introduced the Restoring American Financial Stability Act of 2010 (the "2010 Bill"
