Tuesday, February 16, 2010

SEC Updates Compliance & Disclosure Interp's; IAC To Meet

Earlier today, the SEC's Division of Corporation Finace released some new Questions & Answers (Q&As) in its Compliance & Disclosure Interpretations (C&DI) series. The link to the new C&DIs is below, as well as C&DI's issued in Dec. 2009 and Jan. 2010.

· Feb. 16, 2010: Reg S-K Sections 116, 117, 119; Form 8-K, Section 121A
· Jan. 20, 2010: Reg S-K Sections 116, 117, 119, 128A, 133; Proxy Disclosure Enhancements
· Jan. 15, 2010: Non-GAAP Financial Measures (same link as above, January 2010 updates)
· Dec. 22, 2009: Proxy Disclosure Enhancements Transition

The full text of the Dec. 2009-Feb. 2010 C&DI updates has been posted in the Summary: "SEC Updates Compliance And Disclosure Interpretations" posted on FEI's website, http://www.financialexecutives.org/.

Investor Advisory Committee To Meet
In other SEC news, according to this Feb. 2 Sunshine Act Notice, the SEC's Investor Advisory Committee (IAC) will hold its next meeting on Feb. 22. Items on the agenda include:
  • consideration of a Committee recusal policy;
  • report from the Education Subcommittee, including a presentation on the National Financial Capability Survey;
  • report from the Investor as Purchaser Subcommittee, including a discussion of fiduciary duty and mandatory arbitration;
  • report from the Investor as Owner Subcommittee, including recommendations for the Committee on Regulation FD and proxy voting transparency, as well as reports on a work plan for environmental, social, and governance disclosure and on financial reform legislation; and
  • discussion of next steps and closing comments

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