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Category Archives: Securities Law

SEC Soliciting Public Comment on Eliminating Reconciliation Requirement for IFRS Financial Statements

Press release: “The Securities and Exchange Commission has published for public comment a proposal to eliminate the current requirement that foreign private issuers filing their financial statements using International Financial Reporting Standards (IFRS) as published by the International Accounting Standards Board (IASB) also file a reconciliation of those financial statements to U.S. Generally Accepted AccountingContinue Reading

Testimony on Foreign Holdings of U.S. Government Securities and the U.S. Current Account

Congressional Budget Office Testimony on Foreign Holdings of U.S. Government Securities and the U.S. Current Account, June 26, 2007, Committee on the Budget, House of Representatives.

WSJ Posts CEO Compensation Scorecard

WSJ free article – CEO Compensation Scorecard: “…starting with this year’s proxies, the SEC has changed how companies report pay. For companies whose fiscal year ended after Dec. 15, 2006, the SEC now mandates a table that includes salary, bonus, the accounting cost of stock and stock-option awards, incentive-plan payments, change in pension value andContinue Reading

Stanford Class Actions Clearinghouse Year in Review 2006

“The Securities Class Action Clearinghouse provides detailed information relating to the prosecution, defense, and settlement of federal class action securities fraud litigation. The Clearinghouse maintains an Index of Filings of 2461 issuers that have been named in federal class action securities fraud lawsuits since passage of the Private Securities Litigation Reform Act of 1995. TheContinue Reading

New on LLRX.com

The following articles are available in the December 2006 issue of LLRX.com: Bloggers Beware: Debunking Nine Copyright Myths of the Online World – Updated, by Kathy Biehl Criminal Justice Resources – Criminal Justice Blogs, by Ken Strutin A Compilation of State Lawyer Licensing Databases, by Trevor Rosen and Andrew Zimmerman Deep Web Research Research 2007,Continue Reading

SEC Enhances Online Search Capabilities for Investors

Press release: “Securities and Exchange Commission Chairman Christopher Cox today announced that investors are now able to search the contents of the disclosure documents filed electronically with the SEC using a new full-text search tool on the Commission’s website. The newly searchable information includes registration statements, annual and quarterly reports, and other filings by companiesContinue Reading

CEO Seeks SEC Approval to Satisfy Fair Disclosure Requirement Using Websites and Blogs

Excerpt of letter sent by Sun Microystems, Inc. CEO Jonathan Schwartz to SEC Chairman Christopher Cox, on October 2, 2006: “As adopted, Regulation Fair Disclosure’s requirement of widespread dissemination can be met through the filing of a Form 8-K or “through another method (or combination of methods) of disclosure that is reasonably designed to provideContinue Reading

SEC to Rebuild Public Disclosure System to Make It 'Interactive'

SEC press release: “Sept. 25, 2006 — U.S. Securities and Exchange Commission Chairman Christopher Cox announced today that the SEC has awarded three separate contracts totaling $54 million to transform the agency’s 1980s-vintage public company disclosure system from a form-based electronic filing cabinet to a dynamic real-time search tool with interactive capabilities.”

SEC v. Martha Stewart and Peter Bacanovi

Litigation Release No. 19794 / August 7, 2006, SEC v. Martha Stewart and Peter Bacanovi, 03 Civ. 4070 (RJH) (S.D.N.Y.) Martha Stewart and Peter Bacanovic Agree to Settle SEC Insider Trading Charges “The Securities and Exchange Commission today announced that it has reached an agreement to settle insider trading charges against Martha Stewart and PeterContinue Reading

Proposed Study to Compare Roles of Investment Advisers, Broker-Dealers

SEC press release, August 1, 2006: “The U.S. Securities and Exchange Commission…issued a request for contract proposals to conduct the first stage of a major study comparing how the different regulatory systems that apply to broker-dealers and investment advisers affect investors. The full text of the RFP.”

Senate Finance Chair Questions Nonprofit Investment Group’s Practices, Seeks IRS, SEC Comment

Press release: Grassley Questions Nonprofit Investment Group’s Practices, Seeks IRS, SEC Comment [6 pages, PDF, includes text of letter from Grassley to National Association of Investors Corp. President as well as letter to etter to SEC Chairman Christopher Cox]

SEC Proposed Rule on Executive Compensation and Related Party Disclosure

SEC Proposed Rule on Executive Compensation and Related Party Disclosure, January 28, 2006 (370 pages, PDF) Related reference, New York Times, January 29, 2006: The Case for Cutting the Chief’s Paycheck: “Corporate America has made some progress in cleaning up its governance, but overly high compensation levels for chief executives show that much remains toContinue Reading