Securities and Exchange Commission Updates

August 10, 2006

SEC proposes Sarbanes-Oxley relief for small companies

On August 9, 2006, the Securities and Exchange Commission proposed to grant smaller public companies further relief from the internal control reporting requirements of Section 404 of the Sarbanes-Oxley Act of 2002. 

SEC issues final executive compensation rules

On July 26, 2006, the SEC adopted final rules amending its executive and director compensation disclosure requirements.  The new rules take effect on Dec. 15, 2006.  The final rules retain most of the original proposals, including expanded tabular disclosure and a Compensation Discussion and Analysis section.  The final rules add the following:

The SEC is expected to publish the new rules on or about August 11, 2006.

 

For additional information, contact  Alan MacDonald at amacdonald@fbtlaw.com.

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