Commission seeks better information for investors.
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TOPICS / ACCOUNTING & REPORTING
SEC regulatory compliance & reporting
SEC proposal would require payback of incentive compensation awarded erroneously
New rules proposed by the SEC would require executives to repay incentive-based compensation that a subsequent accounting restatement shows was not earned.
SEC proposes linking executive compensation with performance
Disclosures would include a total shareholder return metric.
Recommendations could help SEC improve EDGAR database
The Securities and Exchange Commission can make changes to improve its EDGAR company filings database without the need for formal rulemaking.
SEC proposes new reporting requirements for investment companies and advisers
Rules proposed by the SEC are designed to improve the reporting and disclosure of information by investment companies and investment advisers.
SEC proposes requiring companies to disclose hedging policies for personnel
The proposal is designed to inform investors whether company personnel can receive incentive compensation through hedging even if the company performs poorly and the stock value drops.
SEC will seek comments on new possibility for voluntary IFRS adoption
The SEC is considering the merits of an informal proposal that would allow voluntary filing of supplemental material in financial statements by U.S. public companies, according to SEC Chief Accountant James Schnurr.
11 suggestions for making corporate disclosures more effective
Better search and visualization capabilities, more discussion of company strategy, and ranking of risk factors would make corporate financial reporting more useful to investors, according to a report released Thursday. Prepared with the help of a broad spectrum of experts, the report provides recommendations for improving the effectiveness of corporate
Department of Commerce hasn’t met conflict minerals obligations, GAO says
Although U.S. public companies were required to file their first conflict minerals disclosures earlier this month, a new government report shows that the U.S. Department of Commerce has not met its obligations with regard to new conflict minerals regulations. The department failed to meet a January 2013 deadline to compile
Portions of conflict minerals rule stayed by SEC
Companies will not have to explicitly declare whether their products contain minerals that originated in mines in the Democratic Republic of Congo or its neighboring countries, according to the SEC. The SEC issued an order Friday staying the effective date for compliance with portions of its conflict minerals rule that
SEC slightly amends conflict minerals reporting requirements
The SEC has amended its conflict minerals reporting requirements after an appeals court struck down part of the rule. Under the conflict minerals rule, issuers are required to attempt to determine whether the gold, tantalum, tin, and tungsten used in their products originated in mines operated by warlords in the
Two SEC commissioners call for stay of conflict minerals rule
Two SEC commissioners issued a statement Monday calling for the commission to stay its conflict minerals rule and impose no further regulatory obligations related to the rule until litigation surrounding the rule is completed. Commissioners Daniel Gallagher and Michael Piwowar said marching ahead with a rule that might be invalidated
New conflict minerals guidance available
Conflict minerals reporting and auditing is a newly emerging practice, as May 31 is the submission date required by the SEC for the first reports of issuers’ efforts to track the gold, tantalum, tin, and tungsten in their supply chains. The AICPA Conflict Minerals Task Force has developed new nonauthoritative
Court ruling doesn’t stop conflict minerals compliance work
Despite an appellate court opinion that struck down a disclosure requirement in the SEC’s new conflict minerals rule, experts say companies need to continue tracing the origins of the gold, tantalum, tin, and tungsten in their supply chains and preparing to file their disclosures. The SEC’s conflict minerals rule was mandated
How preparers can cut down on disclosures in financial reports
Changes to disclosure requirements are on the horizon as the SEC ponders updating its rules in an effort to make information more useful for investors. The commission is reviewing specific sections of regulations S-K and S-X to see if requirements can be updated, SEC Division of Corporation Finance Director Keith
Companies lagging in conflict minerals process
Conflict minerals reporting may be a significant challenge for executives this spring as many companies are just in the early stages of compliance exercises as the May 31 SEC filing deadline approaches, according to a report released Wednesday. The SEC’s new conflict minerals rule grew out of the Dodd-Frank Wall
Unnecessary disclosures targeted by SEC
A targeted, step-by-step approach is the best way for the SEC to review and overhaul its financial disclosure requirements under securities laws, SEC Commissioner Daniel Gallagher said Monday. In a speech at the Forum for Corporate Directors in California, Gallagher said he hopes the SEC can “make real headway” in
SEC plans to consider whether global standards are achievable
The SEC plans to consider whether a single set of high-quality global accounting standards is achievable, according to one initiative described in a draft of the commission’s strategic plan for 2014 to 2018. An initiative described on page 8 of the 39-page document, which was released Monday, says the SEC
SEC delays municipal adviser rule compliance date
Compliance with the SEC’s final municipal adviser registration rules will not be required until July 1, 2014, the commission announced Monday. The SEC extended the date for compliance to give market participants additional time to analyze, implement, and comply with the final rules. The rules had been scheduled to go
New regulations among SEC’s 2014 examination priorities
Issues posed by new rules and regulations will be among the issues the SEC scrutinizes most closely in 2014 in its examination of issues at financial institutions reviewed under the Office of Compliance Inspections and Examinations’ National Examination Program. The SEC on Thursday announced its examination priorities for 2014, which
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