“The market is missing things, and we are not at our true value” is a common refrain we hear from company executives, both public and private equity-backed. Investors may not fully understand a small, but growing part of the...more
On St. Lucia's Day (December 13), the staff of the Securities and Exchange Commission published updates to its compliance and disclosure interpretations (CD&Is) with respect to non-GAAP financial measures. The following new...more
Environmental, social and governance (ESG) factors continue to play an increasingly significant role across the capital markets and have an impact on a range of financial instruments and products. We have previously written...more
ESG (Environmental, Social and Governance) is everywhere. From landmark climate regulations approved in Europe in June to new ESG disclosure rules in China, from sustainable investments growing by double-digit multiples to...more
ESG-focused investment funds raised a record amount last year – estimated at more than $50 billion in new investor money. This trend is expected to not only continue but accelerate over the next few years. ...more
Following the Securities and Exchange Commission’s (SEC) issuance of interpretive guidance regarding the disclosure of key performance indicators and metrics (KPIs) early last year, we’ve been tracking SEC comments in this...more
In anticipation of the upcoming reporting season, we highlight rule changes, guidance, and trends for public companies to consider in preparing annual report and proxy statement disclosures in 2021. During 2020, the U.S....more
Earlier this year, the Securities and Exchange Commission (SEC) issued interpretive guidance, effective February 25, 2020, regarding the disclosure of key performance indicators and metrics (KPIs) in Management’s Discussion...more
On January 30, 2020, the Securities and Exchange Commission ("SEC" or "Commission") published interpretive guidance (the "Guidance") that companies should consider when disclosing key performance indicators ("KPIs") and other...more
The release of MD&A interpretive guidance on KPIs and metrics reinforces their key role in company disclosure. On January 30, 2020, the US Securities and Exchange Commission (the “SEC”) published guidance on the disclosure...more