December 5, 2013

Corp Fin Issues 14 New “Bad Actor” CDIs

Yesterday, Corp Fin updated its “Securities Act Rules Compliance and Disclosure Interpretations” to provide 14 new interpretations clarifying the application of the “bad actor” disqualifications from Rule 506 offerings. In this blog, Blank Rome’s Yelena Barychev provides a summary – and in this blog, Leonard Street’s David Jenson provides some analysis – and here’s Keith Bishop’s take.

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PCAOB Reproposes “Disclosure of Engagement Partner” Standards

Yesterday, the PCAOB reproposed amendments to its auditing standards that would provide disclosure about the engagement partner and certain other participants in the audit, including seeking input on what types of disclosure would be useful, the potential costs, etc.

Here’s the comment letters received on the original proposal. And there is coverage of the discussion among the PCAOB’s Board Members during yesterday’s deliberations in FEI’s blog.

SEC Chair White Speaks on Benefits of Shareholder Engagement

As noted in this Reuters article, SEC Chair White recently delivered this speech addressing shareholder engagement and shareholder activism. At the same event, SEC Commissioner Gallagher gave this speech on proxy advisors, a precursor to today’s proxy advisors roundtable

– Broc Romanek