December 9, 2016

Corp Fin: CDIs Here, CDIs There, CDIs, CDIs Everywhere!

Getting them out the door before Keith Higgins’ imminent departure, Corp Fin dropped a whopping 35 new CDIs yesterday, covering a broad range of topics.  Here’s the inventory:

– 5 new Exchange Act Forms CDIs: Form 20-F

– 2 new Securities Act Forms CDIs: F-Series Forms

– 7 new Exchange Act Rules CDIs: Rules 3a11-1 to 3b-19

– 2 new Exchange Act Rules CDIs: Rules 12g-3 & 12h-3

– 6 new Securities Act Rules CDIs: Rule 144A

– 7 new Securities Act Rules CDIs: Rule 405

– 6 new Securities Act Rules CDI: Rules 902 & 903

SEC Enforcement Chief to Leave by Year-End

Yesterday, the SEC announced that Enforcement Director Andrew Ceresney will leave the agency by the end of the year.  The release notes that the SEC filed more than 2,850 enforcement actions & obtained more than $13.8 billion in monetary sanctions during his tenure.  The SEC also charged over 3,300 companies & over 2,700 individuals – including many CEOs, CFOs, & other senior corporate officers. Stephanie Avakian will become the Acting Director of Enforcement.

This announcement is on the heels of the one about Keith Higgins’ pending departure. As Broc blogged a few weeks ago, this exodus of Senior SEC Staffers is normal when the Administration changes hands…

Earnings Calls: Salty CEOs Earn a PG-13 Rating

My language can be a little salty at times – & one of my phobias is letting a profanity slip out at a really inappropriate time. That’s why I took a particular interest in this CNBC piece about CEOs swearing during conference calls. Holy . . . uh. . . Cow – I thought the stats would be much worse!

John Jenkins