Glen Schleyer Authors Lexis Practice Advisor Article on Public Company Reporting and Corporate Governance Market TrendsJune 22, 2017
On June 22, Glen Schleyer authored a Lexis Practice Advisor article titled “Market Trends: Public Company Reporting and Corporate Governance,” which provided an overview of recent developments in, and predictions for, U.S. public company reporting and corporate governance. The article explored trends such as the expanded scrutiny by the U.S. Securities and Exchange Commission staff of issuers’ use of financial measures not aligned with generally accepted accounting principles (GAAP), as well as the status of the SEC’s Dodd-Frank to-do list on disclosure and governance. Glen wrote that, though it is unclear whether Dodd-Frank disclosure-related rules will come into effect, “issuers and their counsel should, nevertheless, keep apprised of developments and give appropriate consideration to how they would implement these requirements if and when they come into effect.” He also noted that the SEC staff’s focus on enforcing non-GAAP rules is likely here to stay. “Absent any guidance or new statements as to SEC staff focus, issuers and their counsel should continue to draft and review financial disclosure with an understanding of the staff’s concerns and interpretations on usage of non-GAAP measures,” he concluded.