SEC’s Cyber Compliance Rules Balance Threats, Disclosure Concerns

“Public companies have the flexibility to decide how to address cybersecurity risks and threats ... Investors have indicated, however, that they need consistent and comparable disclosures in order to evaluate how successfully public companies are doing so,” the SEC’s Erik Gerding said. 

By David Jones • Dec. 20, 2023

DOJ, FTC Detail Aggressive Antitrust Enforcement

White House economist Lael Brainard said the guidelines were “an important step to lower costs for consumers ... and ensure antitrust enforcement is fit for purpose in today’s economy.”

By Vincent Ryan • Dec. 19, 2023

EU Sustainability Reporting: Multinationals Tackle a Compliance Monster

Early challenges in sustainability reporting involve people, data, and questions of materiality, say executives from Cummins, Dell, and Mondelēz. 

By Vincent Ryan • Dec. 15, 2023

SEC Brought 91 Cases Against Companies in FY ‘23

Faulty issuer reporting and disclosures remained the most prevalent allegation type, accounting for 45% of all actions filed in fiscal year 2023.

By Vincent Ryan • Dec. 13, 2023

Aligning SEC, Existing Clawback Policies

Companies with existing clawback policies can help ensure it doesn’t conflict with the mandatory 2024 SEC policy by using tiebreakers.

By Robert Freedman • Dec. 12, 2023

Madoff Investigator On Fraud: ‘Never Let Your Guard Down’

Fifteen years after Bernie Madoff's arrest, the SEC's failure to spot his Ponzi scheme still holds lessons for CFOs.

By Vincent Ryan • Dec. 12, 2023

Republican AGs Back Lawsuit Challenging Nasdaq Diversity Rules

Nasdaq first proposed new listing rules that required companies to publicly disclose diversity statistics regarding their boards of directors in 2020.  

By Ryan Golden • Dec. 4, 2023

Audit Quality Questioned at Baruch Conference

One board member said audit firms need to change their cultures to drive the behaviors that would ensure the “consistent execution of high-quality audits.”

By Vincent Ryan • Dec. 1, 2023

First OCC Fintech Chief Had Phony Resume: Reports

Prashant Bhardwaj alleged he held positions at Huntington and Fifth Third — and at Citi at a time when he would have been 13, according to a resume The Information obtained through FOIA.

By Gabrielle Saulsbery • Nov. 30, 2023

NYU’s Stern Center for Business and Human Rights Calls for ESG Ratings System Overhaul

Environmental, social and governance investing should center on companies’ impacts on the environment and society rather than shareholder profit, the report argues.

By Lamar Johnson • Nov. 28, 2023

Audit Fees Rose Nearly 5% in 2022: Weekly Stat

Inflation drove up fees, but so did the increasing effort required to perform and support a high-quality audit.

By Vincent Ryan • Nov. 15, 2023

SEC Accountants Highlight This Year’s Compliance Struggles

Staff at the SEC’s Office of the Chief Accountant give filers a heads-up on the accounting obstacles for which preparers and companies seek advice.

By Vincent Ryan • Nov. 14, 2023

Who’s Most Affected by NLRB’s Joint Employer Final Rule?

The labor board “is unleashing a storm” that could spread to multiple industries.

By Ryan Golden • Oct. 31, 2023

What New Disclosure Rule?

The new U.S. “beneficial ownership” rule will impact 32.6 million reporting companies in 2024 alone.

By David McCann • Oct. 31, 2023

Will New DOJ Safe Harbor Coax Acquirers to Report Seller’s Misconduct?

Even with a safe harbor, the decision to self-disclose criminal actions at a newly acquired company won’t be easy to make.  

By Vincent Ryan • Oct. 10, 2023

A Fistful of Fraud: The SEC Closes Out FY 2023 With 20 Lawsuits

Among the lawsuits filed, former Pareteum CFO Edward O’Donnell was sued for revenue recognition violations.

By Vincent Ryan • Oct. 3, 2023

The Corporate Transparency Act: Shedding Light On a Stealth Statute

Here is a high-level summary of the CTA and its requirements.

By Robert B. Lamm • Sept. 28, 2023

FASB Income Tax Disclosure Compliance Won’t Be An Easy Lift

“I think it is fair to say that this is a significant chapter in greater tax transparency,” said Brett Weaver, partner and ESG tax leader at KPMG.

By Vincent Ryan • Sept. 7, 2023

Business Interruption Policy Holders Lose Court Fights

The insurance industry has declared pandemics uninsurable events — beyond the financial wherewithal of the private market.  

By Vincent Ryan • Aug. 31, 2023

Navigating ESG: Strengthening Governance for Long-Term Success

Developing an effective governance infrastructure is the foundation of ESG success. 

By Mallory Thomas • Aug. 29, 2023

DOJ, FTC Deliver 1-2 Punch Against Interlocking Directorates

“Competitors sharing officers or directors further concentrates power and creates the opportunity to exchange competitively sensitive information and facilitate coordination,” said U.S. Assistant Attorney General Jonathan Kanter.

By Robert Freedman • Aug. 18, 2023

Securities Class Action Filings Rose 23% Vs. Prior Six Months

Cryptocurrency class-action suits are highest among all securities filings in the first half of 2023, followed by SPAC filings.

By Andy Burt • Aug. 15, 2023

ESG’s Biggest Miss: Supply Chain Visibility

“Today, brands must adhere to ever-changing regulations even as they face intense scrutiny from consumers and influencers ... CFOs must now prioritize risk assessment and mitigation like never before,” Edward Hertzman said.

By Adam Zaki • Aug. 11, 2023

Judging Materiality Most Difficult Part of Cybersecurity Incident Disclosure

“The key driver for regulators remains the undeniable fact that cyber events can have demonstrably material effects on major companies throughout the economy,” said Jamie Gerber, CFO of SimSpace.

By Vincent Ryan • Aug. 1, 2023

PCAOB Inspections Find 40% of Audits With Deficiencies

“These findings are absolutely unacceptable, and audit firms must make changes to turn things around and live up to their responsibility to investors,” said PCAOB Chair Erica Y. Williams.

By Vincent Ryan • July 26, 2023