The FTC voted today to issue revised proposed Guides Concerning the Use of Endorsements and Testimonials in Advertising, aka, the “Endorsement Guides.” In a 5-0 vote, including a yes vote from the FTC’s newest Commissioner, Alvaro Bedoya, the FTC agreed to publish their proposal in the Federal Register and will take comment on the updates from the public. In addition, the FTC announced that it will hold a virtual event on October 19, 2022, in which it will consider the special challenges presented by advertising to children, especially children under 12 years of age.
On March 31, 2022, the staff of the Division of Corporation Finance and the Office of the Chief Accountant of the SEC issued Staff Accounting Bulletin (SAB) No. 121 (SAB 121), which “adds interpretive guidance for entities to consider when they have obligations to safeguard crypto-assets held for their platform users.” SAB 121 highlights the enhanced technological, legal and regulatory risks associated with safeguarding digital assets, as compared with more traditional asset classes.
Continue Reading SEC Issues SAB 121 Providing Accounting Guidance for Companies that Safeguard Digital Assets
Last week, the Securities and Exchange Commission revealed its much-anticipated proposal to require that public companies disclose climate-related information. The proposed rule is significant because, for the first time, the SEC would mandate that companies (including foreign companies) publicly traded in the US disclose climate-related risk and greenhouse gas emissions information beyond the information currently required by existing SEC rules applicable to registration statements and annual reports.
Continue Reading The SEC Proposes a Mandatory Climate Disclosure Regime for Public Companies
On March 9, 2022, the Securities and Exchange Commission held an open meeting and proposed new cybersecurity disclosure rules for public companies by a 3-1 vote. …
Continue Reading SEC Proposes Cybersecurity Rules for Public Companies
A series of recent regulatory actions at the Securities and Exchange Commission reaffirms the agency’s commitment to ESG issues under new Chair Gary Gensler. These actions, which affect shareholder proposals, contested director elections, and proxy advisory firms, will each impact publicly-traded retailers.
Continue Reading SEC Continues to Advance ESG Agenda
On September 22, 2021, the Division of Corporation Finance of the Securities and Exchange Commission issued a sample comment letter to highlight its increased focus on climate change-related disclosures or the absence of such disclosures in issuer filings under the Securities Act and the Exchange Act.
Continue Reading SEC Issues Sample Climate Change Comment Letter
On August 6, 2021, the Securities and Exchange Commission approved new Nasdaq rules aimed at advancing diversity among board members of Nasdaq-listed companies and increasing disclosure of diversity statistics.
Continue Reading SEC Approves New Nasdaq Rules Aimed at Advancing Board Diversity
On August 16, 2021, the U.S. Securities and Exchange Commission announced that Pearson plc, a publicly traded British multinational educational publishing and services company, agreed to pay a $1 million civil penalty in a settlement related to charges that Pearson misled investors about a 2018 data breach resulting in the theft of millions of student records.
Continue Reading SEC Sanctions Public Company for Misleading Disclosures About Data Breach
As we previously reported, new SEC rules requiring reporting on human capital resources will take effect November 9, 2020.
Continue Reading SEC Human Capital Reporting Rules Take Effect
The ongoing effects of the Covid-19 pandemic and other recent socio-political events will present a number of disclosure questions for publicly-traded retailers completing their second fiscal quarters. …
Continue Reading SEC Disclosure Issues for Publicly-Traded Retailers