July 5, 2012
Iran Sanctions: Another Congressional Bill to Force Disclosure
Trying not to blog considering most of you are on vacation – and that we lost power here again! But there is always a lot going on. As noted in this excerpt from this SNR Denton memo (posted in our “National Security” Practice Area):
One of the key components of the new round of Iran sanctions legislation currently under consideration by the US Congress is a new US SEC disclosure obligation for SEC-registered “public” companies that are engaged, directly or indirectly through their affiliates, in certain Iran-related conduct. Section 501 of the House-passed bill (HR 1905) and Section 214 of the Senate-passed bill (S 2101) both would amend Section 13 of the Securities Exchange Act of 1934 (“Exchange Act”) to require that SEC-registered public companies make certain disclosures regarding Iran in their annual and quarterly reports.
UK Government to Require Mandatory Greenhouse Gas Emissions Reporting
Speaking of new disclosures, as noted in Gibson Dunn’s blog, the UK recently announced at that it will become the first country to require emissions data disclosure in companies’ annual directors’ reports. In comparison, the SEC issued an interpretive release early in 2010 providing guidance on existing US disclosure requirements as they apply to climate change matters.
More on “UK One Step Closer to Binding Say-on-Pay: On to Parliament”
Recently, I blogged about the UK’s march towards binding say-on-pay. Now, as described in this Davis Polk blog, the UK has published a consultation paper focusing on the content of remuneration reports of UK-incorporated quoted companies that would disclose the compensation of directors, including executive directors. Read the blog for more…
– Broc Romanek