Header graphic for print
The Securities Edge Securities Blog for Middle-Market Companies

Monthly Archives: June 2016

Challenge to Regulation A+ Denied

Posted in Capital Raising

Good, but not surprising, news for issuers considering a Regulation A+ offering. Back in May 2015, Massachusetts and Montana sued the SEC in an attempt to invalidate the Regulation A+ rules.  Montana had attempted to obtain an injunction to prevent the Regulation A+ rules from going into effect last June, but was denied.  Now, the… Continue Reading

The SEC’s summer menu

Posted in Bob's Upticks, Disclosure Guidance, SEC

In recent weeks, the SEC has given public companies some new menu items, including the following: On June 1, the SEC adopted an “interim final rule” that permits companies to include a summary of business and financial information in Annual Reports on Form 10-K.  The rule implements a provision of the Fixing America’s Surface Transportation… Continue Reading

New federal law provides additional protection for trade secrets

Posted in Technology Company Issues

President Barack Obama signed into law Wednesday, May 11th, a bill that will provide protection for trade secrets on the federal level. This new legislation, called the Defend Trade Secrets Act of 2016, or DTSA, has been hailed by commentators as an extremely significant addition to federal intellectual property law. The DTSA was created as… Continue Reading

Senator Warren strikes again

Posted in Bob's Upticks, SEC

It’s almost exactly one year to the day since I took Senator Elizabeth Warren to task for what I believed was an unwarranted and particularly vicious attack on the SEC – or, rather, Chair White’s tenure at the SEC.  Apparently, Senator Warren decided to celebrate the anniversary with another attack on the SEC and Chair… Continue Reading

Another zombie from the PCAOB

Posted in Accounting, Bob's Upticks, Disclosure Guidance, PCAOB

Over the years, the PCAOB has developed a reputation for pursuing zombie proposals – proposals that appear to be dead due to widespread opposition and even congressional action.  Remember mandatory auditor rotation?  It practically took a stake through the heart to kill that one off, and I’m informed that even after it was presumed to… Continue Reading

Mind the GAAP

Posted in Accounting, Bob's Upticks, Disclosure Guidance, SEC, SEC Enforcement

Until recently, I’ve firmly believed that the SEC’s use of the bully pulpit can be effective in getting companies to act – or refrain from acting – in a certain way.  Speeches by Commissioners and members of the SEC Staff usually have an impact on corporate behavior.  However, the use of non-GAAP financial information –… Continue Reading