Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Compliance Hotline
New Rules for Smaller Companies and Foreign Issuers
On Aug. 9, the SEC issued proposed and final rules extending certain compliance deadlines for smaller public companies and many foreign private issuers pursuant to the internal controls reporting requirements of ' 404 of Sarbanes Oxley. These rules follow the SEC's July 11 publication of a concept release seeking comment on guidance for management to aid companies in assessing their internal controls.
The proposed rules seek to extend the deadline for non-accelerated filers to provide a report under ' 404(a) by management assessing the effectiveness of a company's internal control over financial reporting from fiscal years ending on or after July 15, 2007, until fiscal years ending on or after Dec. 15, 2007. The SEC is also proposing to move the compliance date of the ' 404(b) requirement, concerning auditor attestation reporting, from fiscal years ending on or after July 15, 2007, until fiscal years ending on or after Dec. 15, 2008. If adopted, this amendment would mean that non-accelerated filers would begin to provide an auditor's attestation report on internal control over financial reporting in the first annual report they file for a fiscal year ending on or after Dec. 15, 2008. As a result, all non-accelerated filers would be required to complete only the management's portion of the internal control requirements in their first year of compliance with the requirements.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Warehouse Liability: Know Before You Stow!
As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.