The days of a cybersecurity breach being only “an IT issue” are over. During his years as an internal audit leader, Grant Ostler, Executive Advisor of Pro Groups, survived two cybersecurity incidents. And while he can confidently say it is never fun, it’s much more painful to go through one...
As companies prepare for their next proxy statement, the SEC Enforcement Division has sent a reminder to focus carefully on perks disclosures. In the latest of its on-going series of perks related enforcement actions, on December 17, 2024, Express, Inc . was charged with failure to...
By George Wilson As we discussed in this blog post , one of the challenges in the SEC’s July 2023 cybersecurity disclosure rules is determining when an Item 1.05 Form 8-K to disclose a material cybersecurity incident will be required. The Instructions for the 1.05 Form 8-K state: ...
By George Wilson On November 14, 2023, the Division of Enforcement announced its 2023 results in this Press Release and related Addendum . According to the Press Release, the Division of Enforcement: Brought 784 enforcement actions, an increase of 3%; Levied...
By George Wilson, On November 22, 2023, the SEC postponed the effective date of its Share Repurchase Disclosure Modernization rule . The postponement was in the wake of an opinion by the U.S. Court of Appeals for the Fifth District in Chamber of Com. of the USA v SEC . You can...
By George Wilson On November 7, 2023, the Division of Corporation Finance announced a new online system for submitting shareholder proposals under the Division’s process to provide informal, non-binding staff views regarding companies’ intentions to exclude proposals from proxy statements. ...
As segment reporting continues to be an ongoing area of concern for the SEC, we compiled a report reviews segment reporting comment letter trends. With the expected adoption of a significant update to segment reporting requirements before the end of calendar year 2023 or Q1 2024, knowing what...
By George Wilson On September 25, 2023, the SEC announced a settled enforcement action against GTT Communications, Inc. GTT grew rapidly, primarily through acquisitions. This growth created challenges and disruption that eventually resulted in material problems in two of GTT’s key...
By George Wilson On August 28, 2023, the SEC announced an Order of Suspension Pursuant to Rule 102(e) barring Peter Armbruster, CPA, former CFO of Roadrunner Transportation Systems, Inc. (“Roadrunner”), from appearing or practicing before the Commission. The bar was based on...
Former high-level staff of the Securities and Exchange Commission spent an hour answering live questions in front of nearly 400 people who attended the SEC Professionals Group Q3 national meeting in Nashville during the Workiva Amplify conference. Pro Group chapters across the country also tuned...
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