Section: October 20, 2022 | Vol. 27, Issue 39, Q3
In an October 19 letter to the SEC, CII calls inadequate Nasdaq’s attempt to correct concerns expressed by CII previously about its proposed rule change to allow companies to modify certain pricing limitations for companies listing in connection with a direct listing with a capital raise.
The SEC on July 13 rescinded key provisions in its 2020 rules that established new requirements for proxy advisors and clarified three of the bases for exclusion that companies may use to omit shareholder proposals from their proxy statements.
The SEC asked companies to provide more information about the financial impact they are experiencing as a result of the war in Ukraine, reported The Wall Street Journal.
CII stressed the importance of updating the “Interim Attestation Standards,” starting with AT 101 Attest Engagements, in an October 20 letter responding to the Public Company Accounting Oversight Board’s (PCAOB) request for comments on its application and use of interim attestation standards.
The SEC August 25 adopted final rules implementing pay-versus-performance disclosure requirements for companies.
The SEC August 24 released a draft five-year strategic plan naming three specific areas where it hopes to increase corporate disclosure to investors: climate risks, cybersecurity hygiene policies and workforce information.
In anticipation of the universal proxy rule that went into effect August 31, SEC staff on August 25 issued three Compliance & Disclosure Interpretations, under Section 139, addressing hiccups that could arise in connection with the new process to ensure that shareholders have full flexibility to vote for their favored combination of nominees using either the company or dissident proxy card.
SEC Chair Gary Gensler discussed topics ranging from climate risk disclosure to PCAOB inspections of audit firms based in China during a September 15 Senate Banking Committee hearing on oversight of the SEC.
Senate Banking Committee Republicans sent a letter July 21 chastising SEC Chair Gary Gensler for not responding adequately to their June 15 letter requesting answers to questions and records relating to the SEC’s proposed climate disclosure rule.
Four Democrats on the Senate Banking Committee sent a letter last month urging SEC Chair Gary Gensler to finalize the commission’s proposed rules on 10b5-1 plans and to take some of those rules’ provisions even further.
More than 400 CII members and guests gathered in Boston September 21-23 to hear from a dynamic lineup of speakers discussing a host of timely topics.
?Copies of each of the CII letters below can be found on the Correspondence, Legal Briefs and Testimony section of the CII website.