TheCorporateCounsel.net

The SEC has been pretty active over the past year in adopting new disclosure requirements, many of which companies are going to be required to comply with in their Form 10-Q and Form 10-K filings over the course of the next year. This Weil memo identifies these new disclosures, provides a snapshot of the compliance dates for calendar year end companies, and offers some guidance on how to prepare to comply with them.  Not surprisingly, the memo’s recommendations focus on the need for companies to take a hard look at their disclosure controls and procedures:

Companies should confirm that disclosure controls and procedures have been updated and evaluated as they prepare to meet the timely disclosure of information required by the new rules. Companies also should be reviewing and updating various policies that will be required to be either filed or described publicly for the first time, such as the company’s insider trading policy, share repurchase processes and procedures, and cybersecurity risk management, strategy, and governance

The memo goes on to identify some specific actions that companies should take regarding their disclosure controls and procedures for each of these new disclosure mandates, if they haven’t already done so.

– John Jenkins