The SEC published in the Federal Register an interim final rule amending Forms 20-F, 40-F, 10-K and N-CSR for registrants required to comply with disclosure and submission requirements under the Holding Foreign Companies Accountable Act.
The SEC adopted interim final amendments to certain annual reporting forms. The amendments apply to registrants that have to comply with disclosure and submission requirements under the Holding Foreign Companies Accountable Act.
Congress passed the Holding Foreign Companies Accountable Act, which would require a "foreign issuer" to disclose if its registered public accounting firm is located in a foreign jurisdiction that prevents the Public Company Accounting Oversight Board from conducting audit inspections.
The President's Working Group on Financial Markets made several recommendations to the SEC addressing the Public Company Accounting Oversight Board's lack of access to auditors of Chinese companies listed in the United States.
The U.S. DOJ and the SEC announced criminal and civil Foreign Corrupt Practices Act-related settlements with a Kentucky-based manufacturer and distributor of copper, aluminum, and fiber-optic cable and wire.
Commentary by Bret Campbell
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