Popular, Financial Reporting

EU adopts first of its kind Nature Restoration Law

Hogan Lovells on 6/20/2024

In a surprising turn of events, the Council of EU Environment Ministers formally adopted on 17 June 2024, the much-contested EU Nature Restoration Law. The new Law sets specific, legally binding, targets and obligations for...more

Australia's Climate Disclosure Regime Moves Closer to Implementation Beginning 1 January 2025

Jones Day on 4/17/2024

On 27 March 2024, Australia's climate disclosure regime moved a significant step closer to implementation, with the federal government's introduction of proposed legislation into Parliament. Any organisations with a presence...more

Australian Government Releases Draft Climate Disclosure Laws

Jones Day on 2/2/2024

The Situation: The Australian government has released its widely anticipated exposure draft legislation for the introduction of Australia's national mandatory climate-related financial disclosures regime....more

ESG in 2023: A Mid-Year Review

Skadden, Arps, Slate, Meagher & Flom LLP on 7/18/2023

As predicted in our February 1, 2023, client alert, “ESG in 2022 and Predictions for 2023,” a global economic slowdown and ongoing backlash in the U.S. have slowed the momentum of some aspects of the environmental, social and...more

Culture: Increasingly the Driving Force Behind Corporate Performance

Ankura on 4/14/2023

This article is part of a collaboration inside The Culture Lab @ Ankura where experts from different fields come together to tell a more impactful story about business outcomes. For this session, Karen Fletcher from Ankura...more

Audit committee oversight of non-GAAP financial measures

Cooley LLP on 4/10/2023

According to audit firm PwC, non-GAAP financial measures play an important role in financial reporting, “showing a view of the company’s financial or operational results to supplement what is captured in the financial...more

SEC Announces Enforcement Action for Misleading Non-GAAP Disclosures

Kramer Levin Naftalis & Frankel LLP on 3/24/2023

The Securities and Exchange Commission (SEC) recently entered into a consent order with IT services company DXC Technology (DXC) with respect to DXC’s alleged violations of the Securities Act and the Exchange Act. The SEC...more

SEC Receives Complaint of Alleged Greenwashing by International Energy Company

Cadwalader, Wickersham & Taft LLP on 2/14/2023

On February 1, 2023, Global Witness – an international non-governmental organization – filed what it called a “groundbreaking greenwashing complaint” with the Securities and Exchange Commission (SEC)’s Climate and ESG Task...more

SEC Updates for the Upcoming 2022 Annual Reports on Form 10-K and Form 20-F

Seward & Kissel LLP on 2/7/2023

The U.S. Securities and Exchange Commission (the “SEC”) has adopted amendments and updated disclosure requirements that are to be included in a reporting company’s annual report on Form 10-K or 20-F. The SEC has also proposed...more

Corporate Sustainability: EU to Expand ESG-Related Reporting Obligations

Morrison & Foerster LLP on 12/21/2022

On November 28, 2022, the European Council gave its final approval to a new Corporate Sustainability Reporting Directive (CSRD). Once transposed into the laws of the EU members states, the new set of rules will replace the...more

Financial Fairness, Formula-1 and Football

White & Case LLP on 6/14/2022

By 30 June 2022, Formula 1 teams will have to submit their (interim) financial information to the International Automobile Federation ("FIA") under the Formula 1 Financial Regulations ("Financial Regulations")...more

Defending Against Ransomware: OSFI Updated Advisory on Cyber Incident Reporting

Bennett Jones LLP on 3/15/2022

Ransomware continues to present an increasing risk to all organizations. Ransomware attacks can involve the installation of malicious software designed to block access to computer systems and/or steal data, and a...more

Preparing for the 2022 Reporting Season

Wilson Sonsini Goodrich & Rosati on 12/20/2021

Below is a high-level summary of applicable rule changes, guidance, and disclosure considerations for the 2022 reporting season for public companies....more

Establishing A Business Entity In Taiwan

International Lawyers Network on 5/24/2021

Introduction to Taiwan - In less than 50 years starting from 1949, Taiwan went from an agriculture-based economy to be an economic powerhouse and leader in the field of high-tech goods. Its Gross Domestic Product (GDP) grew...more

SEC Announces Charges Against Fulton Financial Corporation and Interface, Inc., in Bellwether of Increased Earnings Management...

BCLP on 10/2/2020

On September 28, the SEC announced charges against two public companies, Interface, Inc. (“Interface”) and Fulton Financial Corporation (“Fulton”), for violations related to the reporting of improperly calculated earnings per...more

SEC Adopts Changes to Financial Disclosure Requirements for Acquisitions and Dispositions

Skadden, Arps, Slate, Meagher & Flom LLP on 5/29/2020

On May 21, 2020, the Securities and Exchange Commission (SEC) adopted extensive changes to the financial disclosure requirements for business acquisitions and dispositions. The amendments are intended to reduce the complexity...more

Caremark Claim Against Audit Committee Survives Dismissal

Stinson - Corporate & Securities Law Blog on 4/30/2020

Kandi Technologies Group, Inc. is a publicly traded Delaware corporation based in China. The Company struggled persistently with its financial reporting and internal controls, encountering particular difficulties with...more

Increased Swaption Activity May Present Financial Reporting Challenges for Oil & Gas Companies

Opportune LLP on 1/10/2020

Lower natural gas prices are causing E&P companies to get creative with their hedging strategies to lock in near-term cash flows above the dismal levels the market is currently offering. When hedging with options, it’s not...more

Rushed Earnings Release Results in SEC Enforcement Action

Stinson - Corporate & Securities Law Blog on 11/27/2019

Calumet Specialty Products Partners, L.P. disclosed in its third-quarter 2017 Form 10-Q that, beginning in September 2017, Calumet’s implementation of its new enterprise resource planning (“ERP”) system had resulted in...more

2019 Corporate Governance Hot Topics

Perkins Coie on 8/25/2019

The following update highlights recent corporate governance hot topics and trends for directors of public companies. Board Oversight of Mission-Critical Risks - In June 2019, the Delaware Supreme Court allowed a Caremark...more

Minimizing Litigation Risk: What Cybersecurity Auditors Can Learn From Their Financial Statement Auditor Analogues

Foley Hoag LLP - Security, Privacy and the... on 1/16/2019

Data breaches – always critically important to those with responsibility for storing, transporting and protecting electronic information – have become an all-consuming topic of late. Stories about data theft dominate...more

Addressing Climate Change in Due Diligence for Corporate Transactions

BCLP on 1/9/2019

The gravity of the problem of climate change is rapidly coming into focus. On November 23, 2018 thirteen federal agencies under the leadership of the National Oceanic and Atmospheric Administration, including among others the...more

SEC Enforcement in Financial Reporting and Disclosure—2018 Mid-Year Update

Jones Day on 8/2/2018

Chairman Jay Clayton's vision for the Securities and Exchange Commission has largely shaped the first half of 2018, with policies and initiatives focused on the "main street investor" and combating clear cases of outright...more

SEC Sees Fewer Filed Cases in 2017, But Signals Aggressive Enforcement Ahead in Financial Reporting, Cybersecurity and Other Key...

Fenwick & West LLP on 11/27/2017

After a record-breaking fiscal year 2016, the Securities and Exchange Commission’s Enforcement Division had a somewhat quieter year, at least in terms of the number of actions filed. The Enforcement Division released its...more

Top Ten International Anti-Corruption Developments for August 2017

Morrison & Foerster LLP on 9/25/2017

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

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