A Few Things Directors Should Know About the SEC

The Harvard Law School Forum on Corporate Governance and Financial Regulation 2014-06-27

Summary:

Editor's Note: Mary Jo White is Chair of the U.S. Securities and Exchange Commission. This post is based on Chair White’s remarks to the Twentieth Annual Stanford Directors’ College, available here. The views expressed in this post are those of Chair White and do not necessarily reflect those of the Securities and Exchange Commission, the other Commissioners, or the Staff.

The SEC today has about 4,200 employees, located in Washington and 11 regional offices across the country, including one in San Francisco that is very ably led by Regional Director Jina Choi, who is here [June 23, 2014]. Many of you have likely had some contact with our Division of Corporation Finance, which, among other things, has the responsibility to review your periodic filings and your securities offerings. Some of you that work for or represent a company that we oversee know our staff in our National Exam Program, and I imagine a few of your companies know something about our Enforcement Division staff. Our other major divisions are Investment Management, Trading and Markets and the Division of Economic and Risk Analysis.

So that is just a quick snapshot of the structure of the SEC and as you undoubtedly know, the SEC has a lot on its regulatory plate that is relevant to you—completion of the mandated rulemakings under the Dodd Frank Act and JOBS Act, adopting a final rule on money market funds, enhancing the structure and transparency of our equity and fixed income markets, reviewing the effectiveness of disclosures by public companies, to name just a few. But what you may not be as focused on is the mindset of the agency on some other things that are also relevant to you as directors.

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Link:

http://blogs.law.harvard.edu/corpgov/2014/06/27/a-few-things-directors-should-know-about-the-sec/

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accounting & disclosure boards of directors practitioner publications regulators materials securities litigation & enforcement speeches & testimony audit committee audits compliance & ethics corporate culture engagement financial reporting mary jo white oversight sec sec enforcement sec investigations whistleblowers

Authors:

Mary Jo White, Chair, U.S. Securities and Exchange Commission,

Date tagged:

06/27/2014, 13:50

Date published:

06/27/2014, 09:00