On 1 November 2018, the Securities and Futures Commission (SFC) announced a new regulatory framework for virtual assets
Yesterday, the Securities and Exchange Commission released an investigative report regarding its investigation into whether nine public companies that
Auditors of public companies will be required to move beyond a simple “pass or fail” opinion and include significant new information in audit reports
In 2014, the U.S. Financial Accounting Standards Board ("FASB") issued new revenue standards under Accounting Standards Codification ("ASC") 606
On August 18, the Securities and Exchange Commission issued a press release announcing its issuance of two releases and the SEC staff's release of a
One of the key benefits of PPP has always been the 'additionality' of investment that off-balance sheet treatment can offer. However, the emergence
Earlier this year, we reported that in KFC Corporation vs. Iowa Department of Revenue, the Iowa Supreme Court upheld the state’s ability to assess income tax on KFC Corporation and other out-of-state franchisors who, despite not having a physical presence in Iowa, nonetheless derive revenue through its franchisees.
On August 30, 2011, the SEC announced a settlement with James O’Leary, former Chief Financial Officer of Beazer Homes USA, Inc., to recover $1,431,022 in cash representing his bonus compensation, incentive-based and equity-based compensation and stock sale profits received during the 12-month period after the issuance of Beazer’s quarterly and annual financial statements for its 2006 fiscal year.
The SEC has continued its recent pace in bringing enforcement proceedings and looking into allegations of fraud.
In its first Foreign Corrupt Practices Act (“FCPA”) Advisory Opinion of 2011, the U.S. Department of Justice (“DOJ”) has addressed an issue of perennial concern for covered corporations and individualswhat is the scope of the FCPA’s “promotional expenses” exemption under the FCPA? Advisory Opinion 11-01, dated June 30, 2011, reviews the request of a U.S. “domestic concern” (the “Requestor”), which sought to pay for the travel of representatives from two foreign agencies to learn about the adoption services provided by the Requestor, and clarifies the circumstances under which companies can benefit from an exception to FCPA liability for payment of the reasonable travel, food, and entertainment expenses of “foreign officials.”