Dodd-Frank.com

FASB Proposes to Delay Effective Dates for Private and Certain Public Companies

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The Financial Accounting Standards Board issued a proposed Accounting Standards Update, or ASU, that would grant private companies, not-for-profit organizations, and SEC registrants classified as smaller reporting companies additional time to implement FASB standards. For smaller reporting companies this would include the standard on current expected credit losses (CECL), and... Read More

Topics: Public Companies and Securities

SEC Proposes to Modernize Disclosures of Business, Legal Proceedings, and Risk Factors

The SEC has issued proposed rule amendments to modernize the description of business, legal proceedings, and risk factor disclosures that registrants are required to make pursuant to Regulation S-K.  The SEC stated the proposed amendments are intended to update the rules to improve disclosures for investors and to simplify compliance... Read More

Topics: Public Companies and Securities

ISS Analyzes Director Overboarding

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ISS has prepared a whitepaper that analyzes trends in director overboarding. The whitepaper notes that in the 2019 proxy season, “overboarding” became a center-stage issue for many companies and investors. Several large asset managers, including Vanguard, BlackRock, and LGIM, enhanced their voting guidelines to apply stricter criteria, while some directors... Read More

Topics: Public Companies and Securities

Facebook: Hypothetical Risk Factors are Insufficient Disclosure When the Risk has Occurred

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The SEC announced charges against Facebook Inc. for making misleading disclosures regarding the risk of misuse of Facebook user data.  According to the SEC, for more than two years, Facebook’s public disclosures presented the risk of misuse of user data as merely hypothetical when Facebook knew that a third-party developer... Read More

Topics: Litigation, Public Companies and Securities