On November 22, 2024, the SEC published a summary of the Enforcement Division’s fiscal-year 2024 results. As it has in prior years, the results were published in a Press Release and accompanying Addendum where you can find all the details about types and numbers of cases.
In fiscal year 2024 the Division filed 583 total enforcement
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Enforcement for Cybersecurity Risk Disclosure Shortfalls
On October 22, 2024, the SEC announced settled enforcement actions against four companies focused on disclosures about cybersecurity risks and actual cybersecurity intrusions. The four companies were Avaya Holdings Corp., Check Point Software Technologies Ltd, Mimecast Limited, and Unisys Corp. All four of the cases have their roots in the SolarWind’s…
SECI’s Period-End Reporting Programs – Register Now!
As we approach December 31, 2024, SECI is presenting several One-Hour Briefings focused on period-end reporting:
Eleventh Annual Form 10-K/Proxy Tune-Up – December 9, 2024
Tenth Annual Dealing With MD&A Hot Topics – December 10, 2024
Fifth Annual Form 20-F Tune-Up – February 14, 2025
Fifth Annual Disclosure Committee Tune-Up – January 28, 2025
SECI’s…
SECI’s New Form 20-F Workshops – Register Now!
Don’t miss SEC Institute’s two new Form 20-F workshops for foreign private issuers. To learn more and to register for these interactive virtual workshops click the links below:
Form 20-F (Part One): Key Information, Risk Factors & Part I Disclosures Essentials Workshop 2024
Form 20-F (Part Two): Parts II & III Disclosures Essentials Workshop 2024…
CorpFin Updates SPAC Co-Registrant Details in FAQs for Voluntary Submission of Draft Registration Statements
On September 16, 2024, CorpFin updated its FAQs for companies that submit draft registration statements for nonpublic review. The JOBS Act provided this nonpublic review process for Emerging Growth Companies, and in 2017 CorpFin announced it would provide a nonpublic review option for many other companies. The current update to the related FAQs makes a…
A Regulation FD Double Down – DraftKings
Back in April 2013, the SEC issued a Report of Investigation addressing dissemination of information via social media channels. The report focused on a Netflix CEO’s use of social media to disclose information relevant to investors without previously telling investors that information would be released via social media. In the report the SEC announced that…
Insider Transaction and Beneficial Ownership Reporting – An Enforcement Reminder
On September 25, 2024, the Enforcement Division announced settled actions against 23 companies and individuals relating to Section 16 and Section 13 reporting. The various actions involved:
Failure of individuals to file Section 16 reports;
Failure of companies to report delinquent Section 16 reports; and
Failure of companies to file Forms 13D, 13G, 13F, and…
Still an Enforcement Focus – More Attempts to Limit Whistleblower Protections
On September 9, 2024, the SEC announced settled charges against seven companies for attempting to limit whistleblower rights through provisions in employment, separation and other agreements. As you can read in the SEC’s Press Release and the related Orders, one company tried to force employees to waive their right to whistleblower awards such as those…
A “Green” Enforcement Action
On September 10, 2024, the SEC announced a settled enforcement action against Keurig Dr Pepper, Inc. related to statements the company made in its 2019 and 2020 Form 10-Ks about the recyclability of its K-Cup coffee and tea pods. In Item 1 of the company’s Form 10-K for the year ended December 31, 2020, the…
FASB’s Conceptual Framework and a Related Chief Accountant Statement
On July 12, 2024, the FASB issued the final chapter of its Conceptual Framework, finishing a process that has spanned decades. The Conceptual Framework does not establish authoritative guidance. In fact, all references to the Conceptual Framework were removed from the Codification in ASU 2024-02. That said, the Conceptual Framework is a foundational part of…