Linda Griggs

Linda Griggs

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SEC Chair White Discusses Directors’ Responsibilities

In a recent speech at the Stanford Directors’ College, SEC Chair Mary Jo White discussed several “things that directors should know about the SEC.” Her speech focused on directors as gatekeepers, self-reporting of wrongdoing,...more

6/30/2014 - Audits Best Management Practices Board of Directors Corporate Culture Corporate Governance Directors Mary Jo White SEC Shareholders Whistleblowers

Pre-Filing Consultation of SEC Staff Regarding Venezuela Operations May Be Appropriate in Certain Circumstances

In a recent meeting, a representative of the SEC accounting staff noted that the SEC staff is focusing on how companies with operations in Venezuela are affected by the various foreign currency exchange mechanisms in...more

6/24/2014 - Currency Exchange Foreign Currency GAAP SEC

Public Company Boards and Management will be Affected by PCAOB’s New and Amended Auditing Standards Regarding Related Party...

The PCAOB’s new and amended auditing standards, adopted on June 10 and subject to SEC approval, require that auditors, among other things, discuss related party transactions and executive officers’ financial arrangements with...more

6/17/2014 - Audits Compliance Enforcement Officers PCAOB SEC

New Revenue Recognition Standard Will Likely Affect Most Companies and Require Pre-Adoption Planning

U.S. companies will need to comply with a new converged revenue recognition standard that the FASB and the International Accounting Standards Board (IASB) issued on May 28. The converged standard—which applies to fiscal years...more

6/6/2014 - Compliance FASB IASB Reporting Requirements Revenue SEC

Enforcement Case Shows SEC’s Increased Focus on Internal Controls

The SEC recently announced the settlement of charges against DGSE Companies Inc. and its former CFO for accounting fraud resulting primarily from his manipulation of the company’s accounting for inventory. DGSE disclosed in...more

6/4/2014 - Accounting Fraud Enforcement Actions Internal Controls Internal Investigations Non-Judicial Settlement Agreements SEC

SEC Chair Highlights Commission’s Accounting Priorities

In a recent speech, SEC Chair Mary Jo White highlighted the Commission’s accounting priorities, indicating, among other things, that the Commission plans to issue a statement regarding International Financial Reporting...more

5/27/2014 - Compliance Crowdfunding Financial Regulatory Reform IFRS Mary Jo White PCAOB Regulation A Reporting Requirements SEC

Separate Financial Statements and the SEC’s Disclosure Effectiveness Project

SEC Division of Corporation Finance Director Keith Higgins recently suggested that the SEC will review the rules requiring separate financial statements or separate financial information under certain circumstances for...more

5/19/2014 - Disclosure Requirements Financial Statements SEC

Updated: No Stay of SEC’s Conflict Minerals Rules

Court denies emergency motion for a stay. By order issued on May 14, 2014, the U.S. Court of Appeals for the District of Columbia denied the appellants’ emergency motion for a stay of the Securities and Exchange...more

5/16/2014 - Conflict Mineral Rules First Amendment Form SD Manufacturers NAM SEC

Possible Future Stay of SEC’s Conflict Minerals Rules

Stay of conflict minerals disclosure may be decided by May 26, 2014. On May 7, the U.S. Court of Appeals for the District of Columbia Circuit ordered the briefing schedule that was requested by the National Association...more

5/13/2014 - Appeals Conflict Mineral Rules Disclosure Requirements Form SD Motion To Stay NAM SEC

FASB Revised Guidance Will Decrease Discontinued Operations Treatment

The FASB recently issued an Accounting Standards Update that should reduce reporting of discontinued operations (disc ops) in some circumstances. The revised standard provides that only the disposal of a part of an entity...more

4/22/2014 - Disclosure Requirements FASB GAAP IFRS Public Entities Reporting Requirements SEC

SEC Hosts Roundtable on Cybersecurity Issues and Challenges

Participants recognize the importance of board oversight and risk disclosures. On March 26, the U.S. Securities and Exchange Commission (SEC) hosted a roundtable to discuss cybersecurity and the issues and challenges...more

4/1/2014 - Board of Directors Cybersecurity Data Protection Disclosure Oversight Committee Roundtable SEC

SEC Proposes Rule on Required CEO Pay Ratio Disclosure

Organizations affected by the proposed rule, which may take effect for the 2016 proxy season, should consider submitting comments to the SEC. On September 18, in order to implement the mandated disclosures under...more

9/24/2013 - CEOs Disclosure Requirements Executive Compensation Pay Ratio Proposed Regulation SEC Transparency

SEC Approves General Solicitation in Private Offerings and Proposes Further Regulation D Amendments

On July 10, 2013, the U.S. Securities and Exchange Commission (SEC) issued a series of three releases — referred to in this White Paper as the General Solicitation Release, the Bad Actors Release, and the Proposing...more

7/25/2013 - Advertising Bad Actors Dodd-Frank General Solicitation JOBS Act Marketing Private Placements Regulation D Rule 144A SEC

SEC Staff Issues FAQs on Conflict Minerals Reporting

FAQs address issues pertaining to the scope and application of the conflict minerals reporting requirement. On May 30, the staff of the U.S. Securities and Exchange Commission (SEC) issued interpretive guidance on the...more

6/6/2013 - Conflict Mineral Rules Manufacturers Mining Reporting Requirements SEC

SEC Issues Guidance on Social Media and Regulation FD

Public companies are encouraged to rigorously analyze SEC guidance prior to disseminating material information via social media....more

4/18/2013 - Disclosure Requirements Publicly-Traded Companies Regulation FD SEC Social Media

SEC Approves Final NYSE and NASDAQ Compensation Committee Rules

Companies are required to comply with certain of the new listing standards relating to compensation adviser independence by July 1, 2013. On January 11, 2013, the Securities and Exchange Commission (SEC) approved...more

2/5/2013 - Compensation Committee Foreign Private Issuers Listing Standards Nasdaq NYSE SEC Securities Exchange Act

SEC Reporting for Certain 2012 Iran-Related Transactions

Mandatory requirements cover actions of issuers' foreign subsidiaries and affiliates. On August 10, 2012, section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 (the Act), 112 P.L. 158, added new...more

1/23/2013 - Foreign Subsidiaries Iran Threat Reduction and Syria Human Rights Act OFAC Reporting Requirements SEC Subsidiaries

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