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For What Possible Reason Did The SEC Eschew All Consistency In Rule 144?

Like Agur, I find some things are beyond my ken.  It is, for example, beyond my understanding why the Securities and Exchange Commission thought it would be a good idea to use three different measures of time in Rule 144.   

Rule 144(b)(1) refers...

Securities and Exchange Commission

Why Round When Truncating Is So Much Easier?

Yesterday, I wrote that the Securities and Exchange Commission is reportedly looking into rounding of earnings per share.  The point of my post was to call attention to the fact that there is more than one way to round numbers.  Rounding is intended...

Securities and Exchange Commission

Rounding Numbers; Let Me Count The Ways

Last week, Dave Michaels at The Wall Street Journal reported that the Securities and Exchange Commission is looking into whether companies were improperly rounding up their earnings per share to the next highest cent.  The SEC's inquiry was...

Securities and Exchange Commission

Who Visits The SEC's Public Reference Room Anyway?

I see the following disclosure in many Form 10-Ks:

The public may read and copy any materials we file with, or furnish to, the SEC at the SEC's Public Reference Room at 100 F Street, NE, Washington, DC 20549.  The public may obtain information on...

Securities and Exchange Commission

Did The SEC's Pay Ratio Guidance Miss Conjunction Junction?

Last week, the Securities and Exchange Commission issued interpretive guidance to assist issuers in complying with the pay ratio rule.  At the same time, the Division of Corporation Finance staff issued guidance concerning how companies might use...

and/or, Executive Compensation, Ira p. Robbins, Pay Ratio Rule, Securities and Exchange Commission, Washington College of Law

The SEC's Flawed Changes To Exchange Act Forms

Title I of the Jumpstart Our Business Startups (aka JOBS) Act amended the Securities Act and the Exchange Act to provide some regulatory relief to issuers that qualify as an "emerging growth company".  Recently, the Securities and Exchange...

Administrative Procedure, Administrative Procedure Act, AP, Form 10-K, Form 10-Q, public notice, SEC, Section 553, Securities and Exchange Commission

Exactly What Part Of "To The Commission" Is Ambiguous?

The Dodd-Frank Act gave us many things, including Section 21F of the Securities Exchange Act of 1934.  Section 21F, prohibits employers from retaliating against a "whistleblower".  15 U.S.C. § 78u-6(h)(1)(A).  We need not guess about the definition...

Dodd-Frank Act, Rule 21F-2, SEC, Section 21F, Securities and Exchange Commission, Somers v. Digital Realty Trust, whistleblower, Whistleblowers

How Independent Is The SEC And How Independent Should It Be?

Can the President say "You're Fired!" to an SEC Commissioner?

In a recent post, John Jenkins emphasized the commonly held understanding that the Securities and Exchange Commission is an "independent agency".  The independence of the SEC, however, is...

44 U.S.C. Sec. 3502(5), Broc Romanek, Davis Polk, Financial Institutions, for cause removal, Free Enterprise Fund v. PCAOB, independent regulatory agency, Justice Stephen G. Breyer, Legal History, SEC, Securities and Exchange Commission

Is This SEC Claim False And Misleading?

Last week, the Securities and Exchange Commission announced yet another whistleblower award.  According to the SEC, the award totals more than $5.5 million dollars.  Tellingly, we don't, and won't, know the exact amount.  The headline to the SEC's...

SEC, Securities and Exchange Commission, whistleblower, Whistleblowers



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30172DBAB0084D3A8F39D7AF0A8E79BC.ashxKeith Paul Bishop
Partner at Allen Matkins
(949) 353-6328
 Contact me
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