All Securities and Exchange Commission articles – Page 50
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Article
SEC once again dragged into fight over mandatory arbitration
The SEC was spared setting mandatory arbitration policy when New Jersey’s attorney general argued a shareholder initiative proposed for Johnson & Johnson would be illegal.
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Blog
Deloitte Japan settles $2 million independence charge
Deloitte Japan has agreed to a $2 million penalty to settle charges with the SEC over auditor independence violations.
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Blog
Legislation demands SEC disclosures for corporate political spending
The newly reintroduced Corporate Political Disclosure Act seeks to require publicly traded companies to disclose their political expenditures through the SEC.
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Blog
Court orders $1B judgment against operators of Woodbridge Ponzi scheme
A federal court in Florida has ordered Woodbridge Group of Companies and its former owner to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors.
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Blog
Companies adjust revenue disclosures, grapple costs
Companies are changing their revenue recognition approach as they move from quarter to quarter, and they’re tallying higher-than-expected costs, poll says
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Blog
IOSCO report gives marching orders to audit committees
Securities regulators globally have banded together to call on audit committees to take a fresh look at their role in promoting and supporting quality audits.
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Blog
SEC settles with 4 companies over prolonged control lapses
Apparently thumbing their noses at internal control requirements, four public companies have now settled charges with the SEC over prolonged failures to maintain ICFR.
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Blog
EY forms independent audit quality committee
EY has joined the rest of the Big Four in seeking independent consult on audit quality, forming a committee of outside experts to advise firm leaders.
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Blog
When earnings precede audit, auditors cave, study finds
Absent a strong audit committee, management can get an upper hand over auditors when it releases unaudited earnings results to the market, a new study says.
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Blog
Restatements declined with adjustments, analysis shows
As restatements numbers have fallen in recent years, so too have out-of-period adjustments, according to a recent analysis by Audit Analytics.
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Article
SEC faces lawsuit over ‘gag orders’ in enforcement settlements
The Cato Institute, a libertarian think tank, is suing the SEC over the mandatory “gag orders” it has added to its enforcement-based settlement agreements for nearly 40 years.
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Article
LIBOR death knell tolls compliance, accounting issues
The slow death of a critical benchmark interest rate will produce a series of compliance headaches for companies stretching over the next few years.
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Blog
SEC fines company over non-GAAP prominence issue
Still on its soap box over non-GAAP reporting, the SEC issued an enforcement action against home security company ADT focused on problems with prominence.
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Blog
Waters: Shutdown is jeopardizing financial markets
As she assumes leadership of the House Financial Services Committee, Rep. Maxine Waters (D-Calif.) is arguing that the ongoing government shutdown is harming the SEC and the integrity of U.S. financial markets.
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Blog
Comment letters show SEC forced restatement on ASC 606
After a 15-part comment letter exchange with the SEC over its compliance with new revenue recognition rules, Kingsway Financial Services opted to restate.
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Blog
Eletrobras compliance failures result in $2.5M penalty in FCPA case
Brazil’s state-run power company Eletrobras has agreed to pay a $2.5 million civil penalty for violations of the Foreign Corrupt Practices Act. Inside, the SEC administrative order details Eletrobras’s compliance failures.
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Blog
As government shutdown drags on, SEC offers guidance
Concerned about how the government shutdown will affect the SEC and filing obligations? The agency is offering several resources to provide some much-needed guidance.
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Blog
Hertz to pay $16M civil penalty for accounting violations
Car rental company Hertz Global Holdings will pay a $16 million civil penalty to settle a case concerning inaccurate financial reporting, the Securities and Exchange Commission announced in an order filed Dec. 31.
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Article
Disclosure reform an idea worth pursuing
The SEC is once again digging into disclosure reforms, and the debate has shifted from what to file to how frequently companies need to file.
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Article
Unfinished business, lingering questions guide regulators into New Year
In 2019, regulators look to build on initiatives that began last year while tackling increased political tensions.