The rule mandates, for the first time, reporting of human capital by companies subject to SEC reporting requirements. As of now, companies only have to report their number of employees. The new rule will still require reporting the number of employees, but also urges companies to disclose metrics that may be material to understanding the registrant’s business such as number of full-time, part-time, temporary employee

The SEC announced it will hold a virtual public meeting of its Investor Advisory Committee on September 24, 2020.  The meeting is from 10am – 4pm ET and open to the pubic via live webcast. It will also be archived on the Committee’s website for later viewing. The Committee will hold two panel discussions. A discussion regarding self-directed IRAs, and a discussion regarding minority community investor inc

On August 26, 2020, the SEC announced it will be reducing the fees it charges public companies and other issuers to register their securities to $109.10 per million dollars, down from $129.80 per million dollars last year. Rates are adjusted each year and are set to levels the SEC projects will generate collections equal to annual statutory target amounts calculated using a methodology developed in consultation with

Mark your calendar for these important SEC deadlines and holidays for the month of September. Monday, September 7, 2020: SEC & EDGAR will be closed in observance of Labor Day Monday, September 14, 2020:  10-K: for Fiscal Year Ended 06/30/20 due for Accelerated Filers Monday, September 28, 2020:  10-K: for Fiscal Year Ended 06/30/20 due for Non-Accelerated Filers 11-K: for Fiscal Year ended 03/31/20 due

The EDGAR system will soon implement a two phase authentication process when requesting an EDGAR Passphrase to be reset. When a request is received by EDGAR to reset a Passphrase, the EDGAR system will send an electronic security token to the EDGAR email contact on record.  This electronic security token will be required to complete the process. If EDGAR contact information is not correct in the system, the security

The SEC voted to propose amendments to the proxy rules to require parties in a contested election to use universal proxy cards that would include the names of all board of director nominees. According the SEC, the proposed changes would enable shareholders to vote by proxy in a way that more closely resembles how they  vote in person at a shareholder meeting and would make it easier for shareholders to vote for the c

The Securities and Exchange Commission proposed a rule that would require registrants to include a hyperlink to exhibits in their filings. The proposed amendments would require registrants that file registration statements and periodic and current reports that are subject to the exhibit requirements under Item 601 of Regulation S-K, or that file on Forms F-10 or 20-F, to include a hyperlink to each exhibit listed in

The SEC has issued an investor alert to warn investors of the dangers and risks of using credit cards to purchase or fund investment accounts. According to the SEC, investors should understand that most licensed and registered investment firms do not allow their customers to use credit cards to buy investments or to fund an investment account. The SEC urges investors to work only with a licensed or registered investm

Hurricane Matthew, like other disasters often give rise to investment scams. Investors and consumers could be defrauded if they don’t take certain precautions. According the SEC, these scams can take many forms, including promoters touting companies purportedly involved in cleanup and repair efforts, trading programs that falsely guarantee high returns, and classic Ponzi schemes where new investors’ money

SEC Commissioner Luis A. Aguilar discussed the important role of the Boards of Directors at the 12th Annual Boardroom Summit and Peer Exchange in NYC. There are significant challenges facing corporate boards and their responsibilities are critical with respect to executive management and the overall direction of the company. According to Aguilar, there are three specific areas that merit special attention. First, enh