March 26, 2013

PCAOB Launches Auditing Standards Codification Project

The PCAOB announced that, at a meeting scheduled for later today, they will consider a proposal for the reorganization of auditing standards. The PCAOB plans to reorganize the patchwork of auditing standards “into a topical structure with a single integrated numbering system, along with certain implementing amendments to its rules and standards.” Ultimately the goal is to present auditing standards in a logical order that follows the audit process.

Division of Trading and Markets Issues Rule 15a-6 FAQs

The Division of Trading & Markets recently published a set of Frequently Asked Questions addressing issues under Exchange Act Rule 15a-6, which provides conditional exemptions from broker-dealer registration requirements for foreign broker-dealers that engage in certain activities involving U.S. investors. Among the topics covered in these Frequently Asked Questions are the delivery of confirmations and account statements directly to U.S. counterparties, the distribution of research to U.S. institutional investors, and the application of the Seven- and Nine-Firms letters to chaperoning arrangements with non-affiliated broker-dealers.

More on our “Proxy Season Blog”

We continue to post new items regularly on our “Proxy Season Blog” for members. Members can sign up to get that blog pushed out to them via email whenever there is a new entry by simply inputting their email address on the left side of that blog. Here are some of the latest entries:

– Examining Hewlett-Packard’s Proposed Proxy Access Rights
– Corp Fin Denies Disney Right to Exclude Proxy Access Proposal
– Detailed Examination of 2012 Shareholder Proposals and Proxy Contests
– SHRM Drops Controversial Proposal for Human Capital Proxy Disclosure
– A Case to Exclude the Triennial Say-on-Pay Shareholder Proposal

-Dave Lynn