On January 13, 2025, the Securities and Exchange Commission (“SEC”) filed a settled enforcement action against Ashford Inc. (“Ashford” or “the Company”), a company that provides products and services to the real estate and...more
1/31/2025
/ Corporate Counsel ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Disclosure Requirements ,
Enforcement Actions ,
Publicly-Traded Companies ,
Regulatory Requirements ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
The Securities and Exchange Commission (SEC) recently announced that United Parcel Service Inc. (UPS) has agreed to pay a $45 million penalty for materially misrepresenting its earnings by improperly valuing its UPS Freight...more
11/27/2024
/ Accounting ,
Corporate Counsel ,
Corporate Governance ,
Disclosure Requirements ,
GAAP ,
Internal Controls ,
Section 17(a) ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Term Sheets ,
UPS ,
Valuation
The first half of 2024 was eventful in the world of environmental, social and governance (“ESG”). Although ESG continued to lose the market tailwinds that have pushed it forward in recent years, regulatory pressures both...more
10/18/2024
/ Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Federal Trade Commission (FTC) ,
Greenwashing ,
Non-Compete Agreements ,
Proxy Season ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Sustainability
On April 12, 2024, the U.S. Supreme Court unanimously held that, in the absence of an otherwise misleading statement, a failure to disclose information required by Item 303 of Regulation S-K (“Item 303”) does not support a...more
4/18/2024
/ Disclosure Requirements ,
Failure To Disclose ,
Financial Services Industry ,
Macquarie Infrastructure Corp v Moab Partners LP ,
Omissions ,
Rule 10(b) ,
Rule 10b-5 ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Securities Violations
Public companies are now required to comply with new cybersecurity disclosure requirements in their Annual Reports on Form 10-K for fiscal years ending on or after December 15, 2023. In preparing this cybersecurity...more
3/5/2024
/ Annual Reports ,
Chief Information Security Officer (CISO) ,
Cyber Incident Reporting ,
Cybersecurity ,
Disclosure Requirements ,
Form 10-K ,
Form 8-K ,
Popular ,
Regulation S-K ,
Securities and Exchange Commission (SEC) ,
SolarWinds
Recent enforcement actions brought by the Securities and Exchange Commission (“SEC”) signal that the SEC is paying close attention to public company financial reporting and will continue to punish misleading accounting and...more
On July 26, 2023, the Securities and Exchange Commission (“SEC”) voted to approve final rules governing cybersecurity disclosures of public companies (“Final Rules”). The Final Rules make meaningful changes to the current and...more
On January 9, 2023, the Securities and Exchange Commission (“SEC”) issued a cease-and-desist order (the “Order”)1 charging McDonald’s Corporation (“McDonald’s”) and its ex-CEO, Stephen Easterbrook, with multiple disclosure...more
1/25/2023
/ Breach of Duty ,
Cease and Desist Orders ,
CEOs ,
Civil Monetary Penalty ,
Compensation ,
Disclosure ,
Disclosure Requirements ,
Executive Compensation ,
Failure To Disclose ,
Fraternization Policies ,
Internal Investigations ,
McDonalds ,
Principal Executive Officer ,
Proxy Statements ,
Regulation S-K ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Separation Agreement ,
Termination for Cause
On March 9, 2022, the Securities and Exchange Commission (“SEC”) announced Proposed Rules on cybersecurity risk management, strategy, governance, and incident disclosure (“Proposed Rules”) to address concerns of increasing...more
On March 9, 2022, the Securities and Exchange Commission (“Commission”) issued its much-anticipated proposed rule amendments which would mandate certain cybersecurity disclosures for public companies (“Proposed Rules”)....more