| SEC final rule name |
Description |
SEC Final Rule: Internal Control Over Financial Reporting in Exchange Act Periodic Reports of Non-Accelerated Filers
Effective date:
12/18/2009
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The SEC is amending temporary rules that require companies that are non-accelerated filers to include in their annual reports, pursuant to rules implementing Section 404(b) of the Sarbanes-Oxley Act of 2002, an attestation report of their independent auditor on internal control over financial reporting for fiscal years ending on or after December 15, 2009. The amendments will extend the compliance date for filing attestation reports, so that a non-accelerated filer will be required to file the auditor's attestation report on internal control over financial reporting when it files an annual report for a fiscal year ending on or after June 15, 2010.
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SEC Final Rule: Technical Correction: Internal Control Over Financial Reporting in Exchange Act Periodic Reports of Non-Accelerated Filers
Effective date:
06/30/2009
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The SEC is extending the effectiveness of Sections 210.2-02T published in 71 FR 47059 (August 15, 2006) and 229.308T published in 71 FR 76595 (December 21, 2006) and amended in 73 FR 38099 (July 2, 2008) through June 30, 2010. The effective dates for the other sections of the July 2, 2008 document remain as published.
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SEC Final Rule: Technical Amendments to Rules, Forms, Schedules and Codification of Financial Reporting Policies
Effective date:
04/23/2009
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The SEC has adopted technical amendments to various rules, forms and schedules under the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC is also making certain technical changes to the Codification of Financial Reporting Policies (CFRP). These revisions are necessary to conform those rules, forms, schedules and the CFRP to two recently issued FASB Statements. FAS 141(R) and FAS 160 were both issued in December 2007. The technical amendments include revision of certain rules in Regulation S-X, certain items in Regulation S-K, certain sections in the CFRP and various forms and schedules prescribed under the Securities Act and Exchange Act.
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SEC Final Rule: Interactive Data for Mutual Fund Risk/Return Summary.
Effective date:
07/15/2009
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The SEC has adopted rule amendments requiring mutual funds to provide risk/return summary information in a form that is intended to improve its usefulness to investors. Under the rules, risk/return summary information could be downloaded directly into spreadsheets, analyzed in a variety of ways using commercial off-the-shelf software, and used within investment models in other software formats. Mutual funds will provide the risk/return summary section of their prospectuses to the SEC and on their websites in interactive data format using the eXtensible Business Reporting Language (XBRL).
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SEC Final Rule: Interactive Data to Improve Financial Reporting
Effective date:
04/13/2009
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The SEC is adopting rules requiring companies to provide financial statement information in a form that is intended to improve its usefulness to investors. In this format, financial statement information could be downloaded directly into spreadsheets, analyzed in a variety of ways using commercial off-the-shelf software, and used within investment models in other software formats. The rules will apply to public companies and foreign private issuers that prepare their financial statements in accordance with U.S. GAAP, and foreign private issuers that prepare their financial statements using IFRS as issued by the IASB.
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SEC Final Rule: Enhanced Disclosure and New Prospectus Delivery Option for Registered Open-End Management Investment Companies
Effective date:
03/31/2009
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The SEC is adopting amendments to the form used by mutual funds to register under the Investment Company Act of 1940 and to offer their securities under the Securities Act of 1933 in order to enhance the disclosures that are provided to mutual fund investors. The amendments require key information to appear in plain English in a standardized order at the front of the mutual fund statutory prospectus. These amendments are intended to improve mutual fund disclosure by providing investors with key information in plain English in a clear and concise format, while enhancing the means of delivering more detailed information to investors. Finally, the SEC is adopting additional amendments that are intended to result in the disclosure of more useful information to investors who purchase shares of exchange-traded funds on national securities exchanges.
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SEC Final Rule: Modernization of Oil and Gas Reporting
Effective date:
01/01/2010
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The SEC is adopting revisions to its oil and gas reporting disclosures which exist in the current form in Regulation S-K and Regulation S-X under the Securities Act of 1933 and the Securities Exchange Act of 1934, as well as Industry Guide 2. The revisions are intended to provide investors with a more meaningful and comprehensive understanding of oil and gas reserves, which should help investors evaluate the relative value of oil and gas companies.
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SEC Final Rule: Technical Amendment to Item 407 of Regulation S-K
Effective date:
09/30/2008
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The SEC is making a technical amendment to Item 407 of Regulation S-K. The technical amendment updates a reference to Independence Standards Board Standard No. 1 (ISB No. 1), which was previously adopted by the PCAOB as an interim standard but has been superseded by the PCAOB's newly adopted Ethics and Independence Rule 3526, Communication with Audit Committees Concerning Independence. The reference is being updated to refer to the "applicable requirements of the PCAOB regarding the independent accountant’s communications with the audit committee concerning independence."
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SEC Final Rule: Commission Guidance and Revisions to the Cross-Border Tender Offer, Exchange Offer, Rights Offerings, and Business Combination Rules and Beneficial Ownership Reporting Rules for Certain Foreign Institutions
Effective date:
60 days from publication in the Federal Register
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The SEC is adopting changes to its cross-border exemptions. These amendments are intended to expand and enhance the utility of the exemptions for business combination transactions, tender offers, and rights offerings and to encourage offerors and issuers to permit U.S. security holders to participate in these transactions on the same terms as other security holders. Among the amendments are codifications of existing interpretive positions and exemptive orders in the cross-border area, as well as amendments to allow specified foreign institutions to report beneficial ownership on Schedule 13G to the same extent as their U.S. institutional counterparts. The is also providing interpretive guidance on several topics that come up frequently for practitioners in the cross-border area.
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SEC Final Rule: Foreign Issuer Reporting Enhancements
Effective date:
60 days after publication in the Federal Register
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The SEC is adopting a number of amendments to rules relating to foreign private issuers that are intended to enhance the information that is available to investors. These amendments are part of a series of initiatives that seek to effect changes in SEC disclosure and other requirements applicable to foreign private issuers in light of market developments, new technologies, and other matters in a manner that promotes investor protection and cross-border capital flows.
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SEC Final Rule: Exemption From Registration Under Section 12(g) of the Securities Exchange Act of 1934 for Foreign Private Issuers
Effective date:
10/10/2008
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The SEC has adopted amendments to the rule that exempts a foreign private issuer from having to register a class of equity securities under Section 12(g) of the Securities Exchange Act of 1934. The exemption allows a foreign private issuer to have its equity securities traded in the U.S. over-the-counter market without registration under Section 12(g). The amendments: (1) Eliminate the current paper submission requirements; (2) Automatically grant the exemption to a foreign private issuer that meets certain conditions; and (3) Require the issuer to electronically publish certain non-US disclosure documents in English.
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SEC Final Rule: Internal Control Over Financial Reporting in Exchange Act Periodic Reports of Non-Accelerated Filers
Effective date:
09/02/2008
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The SEC has adopted amendments to temporary rules that were published on December 21, 2006, in Release No. 33-8760. Those temporary rules require companies that are non-accelerated filers to include in their annual reports, pursuant to rules implementing Section 404(b) of the Sarbanes-Oxley Act of 2002, an attestation report of their independent auditors on internal control over financial reporting for fiscal years ending on or after December 15, 2008. Under the amendments, a non-accelerated filer will be required to file the auditor’s attestation report on internal control over financial reporting when it files an annual report for a fiscal year ending on or after December 15, 2009.
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SEC Final Rule: Definitions of Terms and Exemptions Relating to the "Broker" Exceptions for Banks
Effective date:
Date of Publication in Federal Register
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The Board of Governors of the Federal Reserve System and the SEC jointly are adopting technical amendments to Regulation R, which the Agencies jointly adopted in September 2007. Regulation R implements certain of the exceptions for banks from the definition of the term "broker" in Section 3(a)(4) of the Securities Exchange Act of 1934, as amended by the Gramm-Leach-Bliley Act. The technical amendments correct cross-references and other typographical errors in the regulation.
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SEC Final Rule: Revisions to Form S-11 to Permit Historical Incorporation by Reference
Effective date:
04/15/2008
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This Final Rule amends Form S-11, a registration statement used by real estate entities to register offerings under the Securities Act of 1933. The amendments permit an entity that has filed an annual report for its most recently completed fiscal year and that is current in its reporting obligations under the Securities Exchange Act of 1934 to incorporate by reference into Form S-11 information from its previously filed Exchange Act reports and documents.
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SEC Final Rule: Internet Availability of Proxy Materials; Regulation of Takeovers and Security Holder Communications; Cross-Border Tender and Exchange Offers, Business Combinations and Rights Offerings; Certain Other Related Rule Corrections
Effective date:
04/01/2008
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The SEC issued a release that contains minor technical amendments to several proxy-related rules. The amendments include corrections of references and typographical errors, as well as updates to contact information.
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SEC Final Rule: Electronic Shareholder Forums
Effective date:
02/25/2008
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The SEC has adopted amendments to the proxy rules under the Securities Exchange Act of 1934 to facilitate electronic shareholder forums. The amendments clarify that participation in an electronic shareholder forum that could potentially constitute a solicitation subject to the proxy rules is exempt from most of the proxy rules if all of the conditions to the exemption are satisfied.
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SEC Final Rule: Electronic Filing and Revision of Form D (Conforming Version)
Effective date:
09/15/2008
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The SEC has adopted (1) rule amendments mandating the electronic filing of information required by Securities Act of 1933 Form D through the Internet and (2) revisions to Form D and to Regulation D in connection with the electronic filing requirement. The revisions simplify and restructure Form D and update and revise its information requirements. The information required by Form D will be filed with the SEC electronically through a new online filing system that will be accessible from any computer with Internet access. The data filed will be available on the SEC's website and will be interactive and searchable.
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SEC Final Rule: Acceptance From Foreign Private Issuers of Financial Statements Prepared in Accordance With International Financial Reporting Standards Without Reconciliation to U.S. GAAP
Effective date:
60 days after publication in the Federal Register.
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The SEC issued its final rule that allows foreign private issuers (FPIs) that prepare financial statements in accordance with International Financial Reporting Standards (IFRS), as published by the International Accounting Standards Board (IASB), to file those financial statements with the SEC without having to first reconcile them with US generally accepted accounting principles (GAAP).
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SEC Final Rule: Revisions to the Eligibility Requirements for Primary Securities Offerings on Forms S-3 and F-3
Effective date:
01/28/2008
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The SEC has released the final rule amendments to the eligibility requirements of Form S-3 and Form F-3 to allow certain domestic and foreign private issuers to conduct primary securities offerings on these forms without regard to the size of their public float or the rating of debt they are offering.
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SEC Final Rule: Smaller Reporting Company Regulatory Relief and Simplication
Effective date:
02/04/2008
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The SEC has released final rule amendments to expand the number of companies that qualify for its scaled disclosure requirements for smaller reporting companies. Companies that have less than $75 million in public equity float will qualify for the scaled disclosure requirements under the amendments. Companies without a calculable public equity float will qualify if their revenues were below $50 million in the previous year. To streamline and simplify regulation, the amendments also move the scaled disclosure requirements from Regulation S-B into Regulation S-K.
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SEC Final Rule: Shareholder Proposals Relating to the Election of Directors
Effective date:
01/10/2008
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The SEC has publishing this adopting release to codify the meaning of Rule 14a-8(i)(8) under the Securities Exchange Act of 1934. Rule 14a-8 provides shareholders with an opportunity to place certain proposals in a company’s proxy materials for a vote at an annual or special meeting of shareholders. Subsection (i)(8) of the Rule permits exclusion of certain shareholder proposals related to the election of directors. The Commission is adopting an amendment to Rule 14a-8(i)(8) to provide certainty regarding the meaning of this provision in response to a recent court decision.
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