On Friday, March 12, 2010 the U.S. Securities and Exchange Commission’s Division of Corporation Finance posted three new Questions & Answers as part of its Compliance & Disclosure Interpretations (C&DIs). The new items posted pertain to:
Section 119. Item 402(c) – Executive Compensation; Summary Compensation Table
• New Question 119.25
• New Question 119.26
Section 133. Item 407 - Corporate Governance
• New Question 133.12
The full text of the new items is in this FEI Summary. Hat-tip to Broc Romanek of The Corporate Counsel.net Blog.
Staff Legal Bulletin On Suspension Of Certain Reporting Obligations
Earlier today (March 15, 2010) the SEC’s Division of Corporation Finance released Staff Legal Bulletin No. 18. The staff legal bulletin appears aimed at making a particular process more efficient by communicating the Division's response to a particular type of no-action letter request, as relates to suspension of certain reporting obligations, and offering guidelines for a common approach by which issuers would not have to request a no action response, although certain conditions would have to be met, and certain forms would still have to filed in connection with the suspension of reporting. Read additional highlights from the staff legal bulletin here.
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