In addition to the “Deep Dive Into the SEC’s Materiality Trigger” Client Update that I blogged about last week, we now have a new Client Update by David Aaron entitled “Updating Corporate and Cybersecurity Practices To Satisfy the SEC’s Final Cybersecurity Disclosure Rules: Assessing Materiality of Cybersecurity Incidents.” Check it out! [Don’t
Quick Alerts
Corp Fin Warns on XBRL With “Sample Comment Letter”
Recently, Corp Fin posted this sample comment letter on XBRL disclosures in an effort to make companies more aware of a focus on improving the quality of XBRL data. As a preface to the sample comment letter, Corp Fin notes there is evidence that investors are using XBRL and Inline XBRL – and that the…
A Deep Dive Into the SEC’s Materiality Trigger for Cybersecurity Incident Disclosures
Here is a Client Update from data security lawyers Andrew Pak and Rebecca Engrav that might help you when it comes to assessing the “materiality” of a cybersecurity incident under the SEC’s new Item 1.05 of Form 8-K. The Client Update analyzes some real-world incidents that should help guide how you might update your disclosure controls…
Nasdaq’s Rule Change Allows Board Committees to Approve Codes of Conduct Waivers
Last week, a Nasdaq rule change went effective immediately that now permits board committees to approve waivers of the code of conduct for directors or executive officers. This changes the rule that required full board approval for these types of waivers. Companies that want to take advantage of this rule change may need to update…
ISS’ Annual Policy Survey Focuses Heavily on E&S: Comments Due September 21st
As it does every time around this year, ISS announced that it has released its Annual Global Benchmark Policy Survey. The survey closes on September 21st. ISS does take the survey seriously, so please do comment if you care about any of the topics.
Globally and in the US, the main focus…
SEC Increases Registration Filing Fees by 34%!
Alas, even the SEC’s registration filing fees aren’t immune to inflation. Recently, the SEC announced a nearly 34% increase to its registration fees. Beginning October 1, 2023 – which is the start of the SEC’s fiscal year – the registration fee rate will increase from $110.20 per million dollars to $147.60 per million dollars.
Securities…
8 Things to Know Right Now
Here’s our latest edition of our monthly feature – a quick snapshot of recent developments:
- Join us on Thursday, September 28th (from 2:00-3:00 pm eastern) for a webcast – “The SEC’s New Cyber Disclosure Rules – What To Do Now” – to gear up for the new SEC rules regarding cyber disclosure by
Corp Fin Issues Five More Rule 10b5-1 CDIs
Last Friday, Corp Fin issued five new 10b5-1 plan CDIs – three under the Exchange Act Rules and two under Regulation S-K – to provide welcome clarifications for a variety of situations, ranging from the new Form 4 checkbox, cooling-off period calculations, overlapping plans that deal with 401(k) plans, and what to disclose about trading…
Artificial Intelligence: SEC Broker and Investment Advisor Concerns
This new Client Update deals with the SEC’s concerns over the use of AI in the broker-dealer and investment advisor conflicts context, something that is not within the scope of practice for many of us. But it’s a topic that bears watching as the importance of AI in everything we do grows. Here’s the intro…
It’s Official: Cybersecurity Disclosure Is Coming This Year
We blogged last week as soon as the SEC adopted its new cyber disclosure rules about seven quick things you needed to know. And now we have put out a much more in-depth Client Update about these important new rules. Here’s an excerpt from that:
- Materiality Determinations Must Be Made Without Unreasonable Delay
The nature…