Last month, the California legislature adopted two wide-ranging climate disclosure bills that will require extensive disclosure from larger public – and private – companies. California Governor Newsom signed the two bills, SB 253 and SB 261, over the weekend.

Here are 9 things to know:

1. SB 253 requires any business entity with $1 billion

Last month, the US Supreme Court granted certiorari to decide an MD&A liability case. The Supreme Court doesn’t weigh in on public company disclosure often so this is a big deal.

The case – Macquarie Infrastructure Corp. v. Moab Partners, L.P. – is about whether companies can be held liable through a private cause…

We barely avoided a federal government shutdown, but it still could happen 45 days hence since what Congress funded was a stopgap measure. If there is a shutdown in mid-November, the SEC would be operating in accordance with this operations plan. Late last week, Corp Fin posted this announcement that includes 22 FAQs to…

Last week, Corp Fin issued nine new CDIs providing further guidance on S-K Item 402(v) pay vs. performance disclosures, supplementing the 15 CDIs issued back in February. These new CDIs include helpful clarifications on fair value calculation and other topics. Corp Fin also updated CDI 118.08 to clarify the application of prior guidance on S-K…

A few weeks ago, the SEC proposed changes to Form ID and Regulation S-T in an effort to make Edgar more reliable. Here’s the 146-page proposing release. One byproduct of these more secure processes would be the possible end to fake filings, something that I enjoyed blogging about over the years when I worked…

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…

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…

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…