Seeking to Revitalize IPO Market, SEC Expands Popular JOBS Act Benefit to All Companies

The dramatic reduction in IPO activity over the last 15 years has been well documented and is “a serious issue for our markets and the country more generally,” according to Jay Clayton in his first public speech as SEC Chairman on July 12. In an effort to reverse this trend, the SEC has expanded a popular JOBS Act benefit to permit all companies, not just smaller companies known as “emerging growth companies,” to submit draft registration statements relating to IPOs for review on a non-public basis.

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In Era of Shortened CEO Tenure, New Study Offers Keys to CEO Success

CEO pay may be rising, as reported in a recent Ticker post, but CEO tenure is getting shorter due to investor impatience in a rapidly changing marketplace, according to the recent Dow Jones Newswires article, “For CEOs, High Pay, Higher Anxiety.”

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Mylan Shareholders Issue Stinging Rebuke to Board, Management at Annual Meeting

The Ticker previously reported on Dutch pharmaceutical company Mylan’s response to a campaign mounted by four pension funds to convince fellow Mylan shareholders to vote no on executive pay plans and on re-election of six directors. While all of Mylan’s directors managed to retain their seats at the annual meeting on June 22, shareholders voted overwhelmingly against the “say-on-pay” proposal and further registered their displeasure with unusually low votes for several directors.

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Auditors Urged to Focus on Disclosures for New Accounting Standards

Is your company “revenue-ready”? The Ticker has previously reported on the need for companies to prepare for timely implementation of the FASB’s new revenue recognition standard, which will take effect in 2018 for most public companies. Any companies not yet feeling a sense of urgency should rethink their position in light of a new alert issued by the Center for Audit Quality (CAQ).

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SEC Warns Companies on Non-GAAP “Free Cash Flow” Metric

In its ongoing effort to reign in the use of non-GAAP financial measures, the SEC has been focusing on a favorite metric of financial economists: free cash flow.

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Panel Suggests 5 Techniques for Preventing Cyber Attacks

At the recent 2017 FINRA Annual Conference, financial firm representatives and their regulators discussed cybersecurity threats and best practices, notes a Forbes article about the May event.

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The Ticker shares recent developments in SEC compliance, capital markets, corporate governance, executive compensation and other matters important to public companies and their officers and directors.  It is published by Fredrikson & Byron’s Public Companies Group.