On March 5, 2024, the House will consider capital formation related legislation, H.R. 2799. This was originally introduced in April 2023 and reported out in July 2023. It is comprised of 19 separate bills. The House Financial Services Committee heard testimony on these bills in 2023, access my testimony on several of these bills.
Market Trends 2022/23: Financial Disclosures for Merger & Acquisition Transactions
This practice note discusses the main amendments to the financial disclosure requirements for acquisitions and dispositions of businesses by U.S. reporting companies, which took effect in January 2021. The amendments aim to improve the quality and relevance of the information provided to investors, reduce the complexity and costs of preparing the disclosures, and promote capital
MB Microtalk: The Corporate Sustainability Reporting Directive
In this MB Microtalk video, Mayer Brown’s Peter Pears discusses the European Union’s Corporate Sustainability Reporting Directive (the “CSRD”). The directive, which for many companies applies from as early as 1 January 2024, creates detailed sustainability reporting requirements, which may apply for both EU and non-EU companies.
Visit our MB Microtalk page for more
MB Microtalk: FINRA Priorities Letters
In this MB Microtalk video, Mayer Brown partner, Tim Nagy, discusses FINRA’s recently issued report on its examination and monitoring program. The 2023 report contains relevant rules, key considerations, findings and observations, and notes on effective practices for compliance practitioners. Read the corresponding legal update here.
Visit our MB Microtalk page for more
SEC Accounting Standard Setting Statement
The SEC’s Chief Accountant Paul Munter, released a statement “Accounting Standard Setting in a Rapidly Evolving Business Environment: A Focus on the Timely Delivery of Investor Priorities,” discussing improvements to Financial Accounting Foundation (“FAF”) and the Financial Accounting Standards Board (“FASB”) accounting standards and standard-setting processes since the SEC’s statement last year.
Since
The SEC’s Acting Chief Accountant’s Perspective
Assessing Materiality: Focusing on the Reasonable Investor When Evaluating Errors
On March 9, 2022, the Office of the Chief Accountant (“OCA”), released a statement regarding assessing the materiality of financial reporting errors. The OCA used this statement to rehash guidance on the concept of materiality and the correction of material errors, evaluate methods of performing
Still Pursuing Financial Disclosures for Federal Judicial Officers
On February 18, 2022, the US Senate unanimously passed the Courthouse Ethics and Transparency Act, which requires all US federal judges to publish their financial disclosure reports to the public. This legislation closely follows the bipartisan bill passed by the House in December 2021, which sought a similar outcome (see our related post
SEC Proposes Amendments to Form PF and Enhanced Reporting for Private Fund Advisers
On January 26, 2022, the US Securities and Exchange Commission (SEC) voted to propose amendments to Form PF in order to enhance the reporting requirements and obligations of certain registered investment advisers to private funds. The purpose of the proposed amendments, as described by the SEC, is “to enhance the Financial Stability Oversight Council’s (FSOC)
New Data Tagging Requirements for Annual Reports Filed in 2022
The US Securities and Exchange Commission (SEC) adopted final amendments to its rules on December 2, 2021 to implement the requirements in the Holding Foreign Companies Accountable Act of 2020. Although for the foreseeable future, the majority of the new rules are expected only to affect SEC registrants whose operations are based in China or
New Data Tagging Requirements for Annual Reports
The US Securities and Exchange Commission (SEC) adopted final amendments to its rules on December 2, 2021 to implement the requirements in the Holding Foreign Companies Accountable Act of 2020. Although for the foreseeable future, the majority of the new rules are expected only to affect SEC registrants whose operations are based in China or