June 24, 2003

The 11-Ks are starting to

The 11-Ks are starting to roll in – and almost all of them now contain a 906 certification (although in various forms and signed by a variety of officials).

In Congress, the Senate and House passed the Accountant, Compliance, and Enforcement Staffing Act of 2003, which should help streamline the SEC’s efforts to add more accountants, economists and examiners to its staff. The new law will allow the SEC to hire accountants, economists and securities compliance examiners under the excepted service authority (lawyers already can be hired on under this authority) – rather than under the federal competitive service process.

Under excepted service authority, the hiring process can be completed in a few weeks’ time as opposed to the months-long time frame often necessary under competitive service requirements. However, the expedited process doesn’t really help if there are no accountants to hire! See

For subscribers and NASPP members, today is the “Nuts and Bolts of Section 16 Electronic Filing” featuring Alan Dye and Herb Scholl of the SEC, among others. This program will walk you through the complicated process of making a filing on the SEC’s new system that is mandatory next Monday – see