News & Analysis as of September 19, 2024

Securities Exchange Act › Audit Committee

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

The Justice Insiders Podcast: Meet the Securities and Exchange (and Human Resources) Commission

Recent PCAOB Developments for Audit Committee and Companies

WilmerHale on 10/30/2023

The Public Company Accounting Oversight Board (PCAOB) has had one of its busiest years in recent memory, including with respect to standard setting, inspections and enforcement. Below is a summary of notable developments that...more

Is It Time to Take a Fresh Look at Disclosure Controls and Procedures for CEO/CFO Certifications?

BCLP on 9/6/2023

In New England Carpenters Guaranteed Annuity and Pension Funds v. DeCarlo (Aug. 2023), the Second Circuit held, among other things, that CEO/CFO certifications mandated by SOX Section 302 constitute non-actionable statements...more

NYSE Restores Thresholds for Related Party Transactions To Align With SEC Disclosure Requirements

Skadden, Arps, Slate, Meagher & Flom LLP on 8/26/2021

On August 19, 2021, the New York Stock Exchange (NYSE) filed an immediately effective rule change (Rule Proposal) restoring a transaction value and materiality threshold for related party transactions that require independent...more

Enforcement at the Gates: SEC Action against Big Four Firm and New International Standards Highlight the Role of Accountants as...

Cadwalader, Wickersham & Taft LLP on 11/7/2016

In late September 2016, Andrew Ceresney, Director of Enforcement of the Securities and Exchange Commission (“SEC”), signaled the SEC’s renewed focus on the key role played by audit committee members and external auditors as...more

SEC Files Settled Action Tied To Restatement

Dorsey & Whitney LLP on 10/7/2015

The SEC filed another action centered on a restatement resulting from improper accounting and internal controls. In this instance the firm lacked procedures for dealing with related party transactions despite contrary...more

Blog: How Often Does This Happen?

Cooley LLP on 8/31/2015

As noted in yesterday’s thecorporatecounsel.net blog, the SEC has issued an Order instituting proceedings under Section 19(b)(2)(B) of the Exchange Act to determine whether to disapprove a proposal to amend Sections...more

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