Podcasts about sec's division

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Best podcasts about sec's division

Latest podcast episodes about sec's division

The Lawfare Podcast
Shoba Pillay and Jennifer Lee on the SEC SolarWinds Enforcement Action

The Lawfare Podcast

Play Episode Listen Later Jan 23, 2024 37:52


The fallout from the SolarWinds intrusion took a new turn with the U.S. Security and Exchange Commission's (SEC) decision to file a cybersecurity-related enforcement action against the SolarWinds corporation and its Chief Information Security Officer (CISO), Timothy G. Brown, on October 30 of last year. To talk about the details and significance of this enforcement action, Lawfare Senior Editor Stephanie Pell sat down with Shoba Pillay, a partner at Jenner & Block and a former federal prosecutor, and Jennifer Lee, also a partner at Jenner & Block and a former Assistant Director in the SEC's Division of Enforcement. They discussed the cybersecurity and national security implications of the SolarWinds hack, what the SolarWinds enforcement action suggests about the SEC's expectations for disclosure obligations of companies, and whether the SEC or another agency is best suited to determine whether and how SolarWinds should be held accountable. They also discussed larger takeaways and messages sent by the SEC's decision to charge a CISO in this case. Support this show http://supporter.acast.com/lawfare. Hosted on Acast. See acast.com/privacy for more information.

Regulatory Ramblings
Reflections on a Career in Securities Regulation

Regulatory Ramblings

Play Episode Listen Later Jan 17, 2024 87:11


Marc I. Steinberg is the Rupert and Lillian Radford Chair in Law and Professor of Law at Southern Methodist University's (SMU) Dedman School of Law in Dallas, Texas.  He has served as a professor, fellow or has lectured at several other prominent universities – including the University of Cambridge, Oxford University, King's College-University of London, Heidelberg University, Stockholm University, University of Tel Aviv, Moscow State University, University of Sydney, Auckland University, University of Hong Kong, University of Tokyo, UCLA and the University of Pennsylvania.Professor Steinberg was an attorney for the U.S. Securities and Exchange Commission (SEC) in the SEC's Division of Enforcement and its Office of General Counsel.  He also has been retained as an expert witness in several high-profile cases, including Enron, Martha Stewart, Mark Cuban, and the National Prescription Opioid Litigation.Marc is the most prolific author of securities law scholarship in the United States, having authored approximately 150 law review articles as well as approximately 45 books. One of his recent books, Rethinking Securities Law (Oxford University Press 2021), was awarded Winner for the best law book in the United States for 2021 by American Book Fest. He is editor-in-chief of The International Lawyer and The Securities Regulation Law Journal. Professor Steinberg is a member of The American Law Institute.In this episode of Regulatory Ramblings, he talks with host Ajay Shamdasani about his background, growing up in Detroit, Michigan, being hired by the SEC as a staff attorney during the federal hiring freeze imposed during the Carter administration and what he learned during his time as an enforcement lawyer there.Marc also shares his views on why he believes the United States' regulatory structure is a key component in the success of its capital markets, as well as his thoughts on the Private Securities Litigation Reform Act (1995), the Sarbanes Oxley Act (2002) and the Dodd-Frank Act (2010), and whether overlaying rules upon rules makes the U.S. regulatory system complex and unwieldy.The conversation concludes on the topic of legal pedagogy, such as how best to teach core, doctrinal, foundational financial law courses such as securities regulation, as well as the topic of legal ethics and what can be done to inculcate such values into future law school graduates. Also discussed is the four-tier structure of U.S. law schools and the contemporary pervasiveness of grade inflation in academia more generally.Find out more about this episode at: hkufintech.com/regulatoryramblingsHKU FinTech is the leading fintech research and education in Asia. Learn more at www.hkufintech.com.

Coin Stories
SEC Commissioner Hester Peirce: Spot Bitcoin ETFs, Crypto Regulation & Evaluating Digital Assets

Coin Stories

Play Episode Listen Later Jan 15, 2024 36:38


In this episode with SEC Commissioner Hester Peirce we discuss: The approval of 11 spot Bitcoin ETFs SEC's hacked X account ahead of the ETF approval  Why the SEC took issue with in-kind redemptions  Crypto regulation and how Bitcoin is different  Are current securities laws sufficient or do we need a new framework for evaluating digital assets?  What is the biggest misconception about the SEC? --- Bio: Hester M. Peirce was appointed by President Donald J. Trump to the U.S. Securities and Exchange Commission and was sworn in on January 11, 2018. Prior to joining the SEC, Commissioner Peirce conducted research on the regulation of financial markets at the Mercatus Center at George Mason University. She was a Senior Counsel on the U.S. Senate Committee on Banking, Housing, and Urban Affairs, where she advised Ranking Member Richard Shelby and other members of the Committee on securities issues. Commissioner Peirce served as counsel to SEC Commissioner Paul S. Atkins. She also worked as a Staff Attorney in the SEC's Division of Investment Management. Commissioner Peirce was an associate at Wilmer, Cutler & Pickering (now WilmerHale) and clerked for Judge Roger Andewelt on the Court of Federal Claims. Follow Commissioner Peirce on X: https://twitter.com/HesterPeirce  --- Coin Stories is powered by Bitdeer Technologies Group (NASDAQ: BTDR), a publicly-traded leader in Bitcoin mining that stands alone as the only vertically-integrated, technology-focused Bitcoin mining company. Learn more at www.bitdeer.com.  --- Natalie's Promotional Links:  Buy Bitcoin, secure it through multisig Collaborative custody, start a Bitcoin IRA or take out a Bitcoin loan with UNCHAINED: https://unchained.com/?utm_campaign=natalie promo code Natalie Bitcoin Nashville is July 25-27, 2024: Get 10% off your passes using the code HODL at  https://b.tc/conference Get 5% off your Bitcoin cold storage solutions at Coinkite, including the Coldcard wallet: https://store.coinkite.com/promo/COINSTORIES CrowdHealth offers the Bitcoin community alternative to health insurance. I now spend just ~$100 a month on my health care. Sign up: https://www.joincrowdhealth.com/natalie  --- This podcast is for educational purposes and should not be construed as official investment advice. --- VALUE FOR VALUE — SUPPORT NATALIE'S SHOWS Strike ID https://strike.me/coinstoriesnat/ Cash App $CoinStories --- #money #Bitcoin #investing  

inSecurities
The SEC's Approach to Rulemaking and Predictive Data Analytics

inSecurities

Play Episode Listen Later Dec 21, 2023 48:30


Brett Redfearn, a former Director of the SEC's Division of Trading and Markets and the Founder and CEO of Panorama Financial Markets Advisory, joins the inSecurities podcast to discuss the Commission's approach to rulemaking and its recent Predictive Data Analytics (PDA) rule proposal.

PwC's accounting and financial reporting podcast
2023 SEC comment letter trends: Segments, today and tomorrow

PwC's accounting and financial reporting podcast

Play Episode Listen Later Dec 19, 2023 50:09


In each episode of our 2023 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance.This week, guest host Kevin Vaughn, a partner in PwC's National Office, sat down with fellow PwC National Office partner Jay Seliber to discuss the latest trends in SEC comment letters on segment reporting and share insights on the FASB's new segment reporting standard. In this episode, you'll hear:2:05 - An overview of the trends in comment letters related to segment reporting, including discussion of the identification of operating segments6:37 - A discussion of aggregation of operating segments, including the significance of quantitative and qualitative characteristics analysis11:57 - Insights on comments related to multiple measures of segment profit or loss13:35 - A breakdown of new guidance under ASU 2023-07 Segment Reporting, including:17:53 - Disclosure requirements of significant segment expenses22:06 – Reporting multiple measures of segment profit or loss and the intersection with guidance on non-GAAP measures 30:20 - Considerations for single reportable segment entities34:00 - Information regularly provided to the chief operating decision maker (CODM)40:31 - Effective date and retrospective application of the new standard42:09 - What's ahead for segment reporting and best practices for enhancing disclosuresWant to learn more? Check out our analysis of SEC comments on segment reporting. For further information on segment disclosures read our publication FASB updates segments guidance and our Financial statement presentation guide. Also follow this podcast on your favorite podcast app for more episodes in this comment letter series. Jay Seliber is a partner in PwC's National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force.Kevin Vaughn is a partner in PwC's National Office. Prior to joining PwC, Kevin was senior associate chief accountant in the Office of the Chief Accountant (OCA) at the SEC where he spent almost 20 years focusing on complex financial reporting and technical accounting issues.Follow PwC's accounting podcast on your favorite podcast app for future episodes in this SEC comment letter series, and subscribe to our weekly newsletter to get all of our thought leadership. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. 

PwC's accounting and financial reporting podcast
2023 SEC comment letter trends: MD&A

PwC's accounting and financial reporting podcast

Play Episode Listen Later Dec 12, 2023 30:58


In each episode of our 2023 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance. This week, host Heather Horn is joined by PwC National Office partner Ryan Spencer to discuss the continued focus in SEC comment letters on Management's Discussion and Analysis (MD&A) and share insights for preparers on how to avoid the common pitfalls.In this episode, you'll hear: 0:52 - An overview of the trends in comment letters related to MD&A, including sector-specific insights 3:59 - A refresher on MD&A reporting requirements and a deep dive into comment letter themes, including: 5:04 - Insights on the concentration of comments related to disclosures on the results of operations and the need for forward-looking discussions 8:05 - The focus on performance metrics and their connection to corporate strategy 10:56 - The rise in comments related to management's analysis and quantification of material fluctuations 12:45 - Why preparers need to evaluate current events and macroeconomic conditions 14:45 - Discussion of the focus on liquidity and capital resources disclosures, including near-term and long-term considerations 16:48 - Key reminders for critical accounting estimates and sensitivity disclosures 21:39 - Best practices for enhancing MD&A disclosures Want to learn more? Check out our analysis of SEC comments on MD&A, and follow this podcast on your favorite podcast app for more episodes in this comment letter series.  Ryan Spencer is a partner at PwC's National Office specializing in SEC financial reporting. He has over 20 years of experience serving clients and is a frequent contributor to PwC's publications and communications. Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting. Follow PwC's accounting podcast on your favorite podcast app for future episodes in this SEC comment letter series, and subscribe to our weekly newsletter to get all of our thought leadership.  Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. 

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PwC's accounting and financial reporting podcast
2023 SEC comment letter trends: Business combinations

PwC's accounting and financial reporting podcast

Play Episode Listen Later Dec 5, 2023 34:01


In each episode of our 2023 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance.This week, host Heather Horn is joined by PwC Deputy Chief Accountant Beth Paul to discuss the rise in SEC comment letters on business combinations and share insights for preparers on how to avoid the common pitfalls. In this episode, you'll hear:2:35 - Insights into the increase in comment letters related to business combinations, including sector observations6:34 - An overview of the themes and trends in comment letters related to business combinations11:44 - A deep dive into SEC staff comments as well as reminders on disclosure and filing requirements, including significance tests and pro forma reporting21:07 - A summary of comment letter trends related to fair value 23:22 - Considerations on goodwill impairment tests and market cap reconciliations29:32 - Final advice for preparers dealing with business combinationsWant to learn more? Check out our analysis of SEC comments on business combinations, as well as our Business combinations and Financial statement presentation guides. Also, listen to a previous podcast on business combination accounting.  Beth Paul is a Deputy Chief Accountant in PwC's National Office responsible for a team of consultants that specialize in business combinations and related areas, such as consolidations, disposals, impairments, and segment reporting.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Follow PwC's accounting podcast on your favorite podcast app for future episodes in this SEC comment letter series, and subscribe to our weekly newsletter to get all of our thought leadership. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

PwC's accounting and financial reporting podcast
2023 SEC comment letter trends: Revenue

PwC's accounting and financial reporting podcast

Play Episode Listen Later Nov 28, 2023 39:57


In each episode of our 2023 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance.This week, host Heather Horn sat down with PwC National Office partner Mike Coleman to discuss common issues noted in the SEC staff's comments on revenue, and why it consistently remains a top area of focus.In this episode, you'll hear:2:03 - An overview of comment letter themes related to revenue and a discussion of the prominence of revenue in financial reporting6:53 - Key considerations in determining performance obligations and the significance of judgments made14:19 - Insights on the continued focus on revenue estimates, including challenges related to recognizing variable consideration and determining standalone selling prices when estimates are embedded in transaction prices20:46 - Common pitfalls with revenue disclosures27:26 - Important reminders on principal-versus-agent considerations30:54 - Sector-specific insights and trends and the value in competitor benchmarking 35:48 - Best practices for preparers on avoiding or responding to SEC staff comments on revenueWant to learn more? Check out our analysis of SEC comments on revenue, as well as our Revenue guide. Also, listen to a previous podcast on trends in revenue more broadly and read our guide on accounting for revenue.  Mike Coleman is a partner in PwC's National Office with over 30 years of experience. Mike specializes in accounting for revenue and software arrangements and has served technology clients for much of his career. In addition, Mike has represented the firm on the AICPA Software Task Force.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Follow PwC's accounting podcast on your favorite podcast app for future episodes in this SEC comment letter series, and subscribe to our weekly newsletter to get all of our thought leadership. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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PwC's accounting and financial reporting podcast
2023 SEC comment letter trends: non-GAAP measures

PwC's accounting and financial reporting podcast

Play Episode Listen Later Nov 21, 2023 40:59


In each episode of our 2023 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance.This week, host Heather Horn sat down with PwC National Office partner Kevin Vaughn to discuss the SEC staff's continued focus on non-GAAP measures, the area with the highest number of comments.In this episode, you'll hear:3:06 - The significance of non-GAAP measures and why they continue to be a focus area for the SEC7:50 - Updates on new and amended compliance and disclosure interpretations (C&DIs) related to non-GAAP measures and their impact on comment letters18:19 - Advice for preparers when responding to SEC staff comments20:08 - Insights on pervasive comment letter themes, including:20:27 - Undue prominence of non-GAAP measures21:40 - Reconciliation of non-GAAP measures and the differentiation between recurring and non-recurring expenses27:10 - Other top comment letter themes in non-GAAP comments, including nature of non-GAAP adjustments, disclosure requirements for non-GAAP measures, and labeling and identification of non-GAAP measures35:23 - Recent enforcement actions related to non-GAAP measures37:52 - Final advice on non-GAAP measures ahead to year-end reportingWant to learn more? Check out our analysis of SEC comments on non-GAAP measures and our publication on non-GAAP, which includes links to the updated C&DIs. Kevin Vaughn is a partner in PwC's National Office. Prior to joining PwC, Kevin was senior associate chief accountant in the Office of the Chief Accountant (OCA) at the SEC where he spent almost 20 years focusing on complex financial reporting and technical accounting issues.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Follow PwC's accounting podcast on your favorite podcast app for future episodes in this SEC comment letters series, and subscribe to our weekly newsletter to get all of our thought leadership.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

PwC's accounting and financial reporting podcast
What's trending in 2023 SEC comment letters

PwC's accounting and financial reporting podcast

Play Episode Listen Later Nov 14, 2023 47:03


With year-end reporting around the corner, we kick off our 2023 SEC comment letter trends series, in which our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance.This week, Heather Horn is joined by Kyle Moffatt, PwC National Office Professional Practice Leader, to share an overview of the 2023 comment letter trends, a breakdown of the SEC's review process, and insights into the SEC staff's key priorities.In this episode, you'll hear:2:01 - A breakdown of the SEC review process, including the staff's current priorities, review timing, and key enforcement actions18:28 - The impact of a potential government shutdown on the SEC's review process and on the capital markets more broadly22:43 - An overview of the the top SEC comment letter trends in 202329:14 - Insights into changes in the SEC's priorities and volume of comment letters, updates on the climate disclosure proposal, and 2024 enforcement priorities34:11 - Key insights into what preparers should focus on, including the importance of “Dear Issuer” letters and reminders for new rules that are effective in 202439:13 - Final advice for preparers entering the year-end reporting seasonWant to learn more? Check out our analysis of SEC comment letter trends. Additionally, follow PwC's accounting podcast on your favorite podcast app for future episodes in this SEC comment letters series, and subscribe to our weekly newsletter to get all of our thought leadership. Kyle Moffatt is PwC's Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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Harvard Business Law Review
Crypto Regulation: SEC Commissioner Hester Peirce

Harvard Business Law Review

Play Episode Listen Later Jun 20, 2023 27:47


We interview SEC Commissioner Hester Peirce on the regulation of cryptocurrency and digital asset exchanges. We begin by discussing the balance of powers that underlie the SEC's ability to regulate and the interplay between regulation and freedom of speech. We then discuss the differences between centralized and decentralized digital assets and the impact that it may have on regulation. Comm. Peirce then challenges the SEC's “regulation by enforcement” approach, discusses the definition of a “security,” and raises the potentially insurmountable issue of registering crypto exchanges.A bit about Comm. Hester Peirce:Hester M. Peirce was appointed by President Donald J. Trump to the U.S. Securities and Exchange Commission and was sworn in on January 11, 2018.Prior to joining the SEC, Commissioner Peirce conducted research on the regulation of financial markets at the Mercatus Center at George Mason University. She was a Senior Counsel on the U.S. Senate Committee on Banking, Housing, and Urban Affairs, where she advised Ranking Member Richard Shelby and other members of the Committee on securities issues. Commissioner Peirce served as counsel to SEC Commissioner Paul S. Atkins. She also worked as a Staff Attorney in the SEC's Division of Investment Management. Commissioner Peirce was an associate at Wilmer, Cutler & Pickering (now WilmerHale) and clerked for Judge Roger Andewelt on the Court of Federal Claims.Commissioner Peirce earned her bachelor's degree in Economics from Case Western Reserve University and her JD from Yale Law School.

The Hash
Hinman Documents Released Amid Ongoing Ripple vs SEC Lawsuit; Snoop Dogg's New NFT Drop

The Hash

Play Episode Listen Later Jun 13, 2023 24:01


The most valuable crypto stories Tuesday, June 13, 2023."The Hash" hosts tackle today's hot topics in crypto: Recently revealed emails tied to William Hinman, the former director of the SEC's Division of Corporation Finance, were published Tuesday by Ripple in its ongoing defense against an SEC lawsuit. eToro will delist four cryptocurrencies in the U.S. next month. Puppynet has crossed more than 20 million transactions from 16 million wallets. Plus, Transient Labs, Inc. Chief Operating Officer Chris Ostoich joins to discuss Snoop Dogg's new 'Passport Series' NFT drop.See also:XRP Prices Jump as Hinman Speech Released in Ripple Labs FilingHinman Emails Reveal 2018 Speech on Ether Drew Input From Multiple SEC OfficialsInvesting Platform eToro to Delist 4 Cryptocurrencies for U.S. Users Next MonthShiba Inu Testnet Blockchain 'Puppynet' Crosses 20M TransactionsSnoop Dogg Drops New NFTs That Evolve With His TourGuy Fieri and Sammy Hagar Launch Web3 Tequila Loyalty ProgramThis episode has been edited by senior producer Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Late Confirmation by CoinDesk
THE HASH: Hinman Documents Released Amid Ongoing Ripple vs SEC Lawsuit; Snoop Dogg's New NFT Drop

Late Confirmation by CoinDesk

Play Episode Listen Later Jun 13, 2023 24:01


The most valuable crypto stories Tuesday, June 13, 2023."The Hash" hosts tackle today's hot topics in crypto: Recently revealed emails tied to William Hinman, the former director of the SEC's Division of Corporation Finance, were published Tuesday by Ripple in its ongoing defense against an SEC lawsuit. eToro will delist four cryptocurrencies in the U.S. next month. Puppynet has crossed more than 20 million transactions from 16 million wallets. Plus, Transient Labs, Inc. Chief Operating Officer Chris Ostoich joins to discuss Snoop Dogg's new 'Passport Series' NFT drop.See also:XRP Prices Jump as Hinman Speech Released in Ripple Labs FilingHinman Emails Reveal 2018 Speech on Ether Drew Input From Multiple SEC OfficialsInvesting Platform eToro to Delist 4 Cryptocurrencies for U.S. Users Next MonthShiba Inu Testnet Blockchain 'Puppynet' Crosses 20M TransactionsSnoop Dogg Drops New NFTs That Evolve With His TourGuy Fieri and Sammy Hagar Launch Web3 Tequila Loyalty ProgramThis episode has been edited by senior producer Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

inSecurities
The CorpFin Candy Dish

inSecurities

Play Episode Listen Later Apr 13, 2023 55:28


George Wilson, the Director of PLI's SEC Institute, joins the inSecurities podcast to talk about the recent Compliance and Disclosure Interpretations (C&Dis) — or as George likes to call them, “candies” — issued by the SEC's Division of Corporation Finance, as well as changes in leadership at the SEC, the FASB's take on crypto accounting, and amendments to Rule 10b5-1.   Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

IIB Bank Talk
IIB Bank Talk with Alma Angotti, Kathryn Rock, Ari Berman, and David Oliwenstein Discussing ESG Frameworks

IIB Bank Talk

Play Episode Listen Later Mar 16, 2023 43:44


Tune in as IIB's Deputy General Counsel, Michelle Meertens talks with Alma Angotti, a Partner in the Financial Services Segment at Guidehouse Consulting; Kathryn Rock, also a Partner in the Financial Service Segment at Guidehouse; Ari Berman, a Partner at the law firm of Pillsbury Winthrop Shaw Pittman LLP and co-chair of Pillsbury's Securities Litigation & Enforcement Practice and Head of the Israel Team; and David Oliwenstein, formerly with the SEC's Division of Enforcement and now a Partner at the Pillsbury law firm as they discuss ESG frameworks and what are the best practices in governance, internal controls, and disclosure

PwC's accounting and financial reporting podcast
SEC enforcement actions: 2022 SEC comment letter trends

PwC's accounting and financial reporting podcast

Play Episode Listen Later Dec 20, 2022 26:58


In each episode of our 2022 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance.To conclude the series, this week Heather Horn sat down with Pete Driscoll, a partner in PwC's National Office, to discuss trends noted in SEC enforcement actions this year, including the increase in cases related to topics on the SEC's current agenda, such as ESG and cybersecurity.In this episode, you'll hear discussion of:1:43 - An overview of the SEC enforcement division and its current priorities 4:43 - Noteworthy enforcement actions related to ESG8:56 - Cases based on false and misleading claims and the types of monetary or disgorgement penalties issued15:05 - The continuing enforcement of traditional cases against issuers, including restatements and cases for inaccurate books and records19:57 - Recent SEC proposals (covered in our publication, SEC proposes new cybersecurity disclosure requirements) and enforcement actions related to cybersecurity21:47 - Advice for listeners as they prepare for year-end reportingWant to learn more? Check out our analysis of SEC comment letter trends. For additional information on recent enforcement actions, read our alert on the delay in enforcement on Rule 144A securities.Pete Driscoll is a partner in PwC's National Office focusing on SEC regulations, reporting, and compliance. Prior to his role at PwC, Pete held several roles at the SEC, including Director of the Division of Examinations and Chief Risk and Strategy Officer.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

Vince Coakley Podcast
Sam Bankman-Fried charged with defrauding crypto investors

Vince Coakley Podcast

Play Episode Listen Later Dec 13, 2022 57:41


The former billionaire, Sam Bankman-Fried, has been charged by the SEC for defrauding cryptocurrency investors. CBS News has more:   The U.S. Securities and Exchange Commission has charged the former CEO of failed cryptocurrency firm FTX with orchestrating a scheme to defraud investors.  An SEC complaint filed Tuesday alleges that Sam Bankman-Fried raised more than $1.8 billion from equity investors since May 2019 by promoting FTX as a safe, responsible platform for trading crypto assets.  The complaint says Bankman-Fried diverted customer funds to Alameda Research LLC, his privately held crypto fund, without telling them. The complaint also says Bankman-Fried commingled FTX customers' funds at Alameda to make undisclosed venture investments, lavish real estate purchases and large political donations.  "FTX operated behind a veneer of legitimacy Mr. Bankman-Fried created by, among other things, touting its best-in-class controls, including a proprietary 'risk engine,' and FTX's adherence to specific investor protection principles and detailed terms of service," Gurbir S. Grewal, director of the SEC's Division of Enforcement, in a statement. "But as we allege in our complaint, that veneer wasn't just thin, it was fraudulent."   Sam Brinton, Energy Official for the Biden administration, has been fired after alleged luggage theft.  Also, President Biden comments on inflation in America. See omnystudio.com/listener for privacy information.

PwC's accounting and financial reporting podcast
Current events: 2022 SEC comment letter trends

PwC's accounting and financial reporting podcast

Play Episode Listen Later Dec 13, 2022 26:45


In each episode of our 2022 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance.This week, Heather Horn was joined by PwC partner Pat Durbin to discuss emerging comment letter trends related to current macroeconomic and geopolitical events. In this episode you'll hear discussion of:1:35 - An overview of the current events trending in recent SEC staff comments4:16 - The importance of consistency of information across filed information and other investor communications 6:43 - Key economic drivers companies should consider in the context of their business and sufficiency of quantitative and qualitative disclosures  9:44 - The impacts of supply chain disruptions and common SEC staff comments11:56 - Material risks resulting from inflation and trending SEC staff comments including on a company's outlook13:58 - How rising interest rates affect companies and what the SEC staff is commenting on17:38 - The areas of focus in the “Dear CFO” sample letter related to the Russia-Ukraine war20:10 - Advice for companies as they look ahead to year end Want to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series. For further information on the impact of recent current events, listen to our Q3 2022 economic and geopolitical update podcast and read our In depth on accounting in uncertain economic times.Pat Durbin is a Deputy Chief Accountant, leading the revenue and liabilities division in PwC's National Office. He has over 30 years of experience consulting with our clients and engagement teams on complex accounting matters, including issues related to revenue, compensation, income taxes, and inventory under both US GAAP and IFRS.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

PwC's accounting and financial reporting podcast
MD&A: 2022 SEC comment letter trends

PwC's accounting and financial reporting podcast

Play Episode Listen Later Dec 6, 2022 43:02


In each episode of our 2022 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance.Kyle Moffatt, PwC National Office partner, is back in the guest seat with our host, Heather Horn, to share key insights on the #1 top SEC comment letter trend in 2022, MD&A.  In this episode you'll hear discussion of:1:27 - The impact of changes to MD&A guidance 8:01 - The types of MD&A comments registrants are receiving11:45 - Who should be involved in telling a company's story in MD&A14:56 - How the SEC's priorities influence comments in this area 19:41 - The importance of company compliance with the overarching principles of MD&A24:20 - How emerging trends are impacting comment letters 33:12 - Advice for companies as they prepare their year-end filingsWant to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series. For more information on the SEC's disclosure requirements pertaining to MD&A, check out our In depth on the amended rules and Topic 9 of the SEC's Financial Reporting Manual.Kyle Moffatt is a partner in PwC's National Office where he consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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PwC's accounting and financial reporting podcast
Non-GAAP measures: 2022 SEC comment letter trends

PwC's accounting and financial reporting podcast

Play Episode Listen Later Nov 29, 2022 37:25


In each episode of our 2022 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance.This week, Heather Horn sat down with Kyle Moffatt, a partner in PwC's National Office, to discuss the SEC staff's continued focus on non-GAAP measures and trending comment letter themes. In this episode you'll hear discussion of:1:15 - What non-GAAP measures are and how registrants use them6:41 - The challenges and judgments associated with non-GAAP measures9:32 - How the focus of the current SEC administration impacts the type and volume of comment letters12:03 - The top non-GAAP comment letter trends and the importance of continuously reassessing these measures20:58 - The interaction of current macroeconomic events and non-GAAP measures 27:34 - What companies should focus on when looking ahead to year-end reporting31:12 - Final advice when responding to SEC staff comments on non-GAAP measuresWant to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series. For further information on non-GAAP measures with respect to business and market disruptions, take a look at the SEC Division of Corporate Finance's guidance on disclosure considerations related to COVID-19.Kyle Moffatt is a partner in PwC's National Office where he consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

covid-19 letter sec measures pwc corporate finance gaap national office non gaap chief accountant sec's division corporation finance
PwC's accounting and financial reporting podcast
Climate change: 2022 SEC comment letter trends

PwC's accounting and financial reporting podcast

Play Episode Listen Later Nov 22, 2022 22:37


In each episode of our 2022 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance.This week, Heather Horn was joined by Valerie Wieman, a partner in PwC's National Office, to discuss a brand new comment letter trend in 2022: climate change disclosures. Given the SEC's ESG-focused agenda, it is not a surprise that climate takes the #3 spot on our list of top comment letter trends.In this episode you'll hear discussion of:0:56 - The history of the SEC's focus on climate change and the issuance of the “Dear Issuer” letter of sample comments3:57 - The existing 2010 SEC interpretive guidance on climate disclosures8:58 - Specific examples of the types of comments frequently issued 11:53 - Lessons learned from registrant responses to the first round of staff comment letters15:18 - The importance of focusing on the 2010 interpretive guidance until the SEC's proposed climate disclosure rule is final17:56 - Val's final advice for year-end reportingWant to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series. For more information on the SEC's disclosure requirements pertaining to climate, read Don't wait until the SEC staff asks you about climate change or listen to the audio version. To learn more about the SEC's proposed climate disclosure requirements, listen to our podcast on the main provisions of the proposal.Valerie Wieman is PwC's National Office Editor-in-chief. She is involved in the creation, development, and publication of our brand-defining thought leadership, with a focus on ESG reporting. Prior to this role, she was part of PwC's National Office SEC Services group, helping clients navigate SEC rules and regulations.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

inSecurities
Accounting for Enforcement

inSecurities

Play Episode Listen Later Nov 17, 2022 50:15


On this episode of the inSecurities podcast, Chris and Kurt chat with Matt Jacques, a former Chief Accountant for the SEC's Division of Enforcement. Matt discusses the role of the Chief Accountant, the auditor's responsibility for identifying fraud, and a few hot topics in SEC accounting and disclosure cases, including materiality and revenue recognition. 

sec accounting insecurities enforcement chief accountant sec's division
PwC's accounting and financial reporting podcast
Segment reporting: 2022 SEC comment letter trends

PwC's accounting and financial reporting podcast

Play Episode Listen Later Nov 15, 2022 43:28


In each episode of our 2022 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance.This week, Heather Horn sat down with Jay Seliber, a partner in PwC's National Office, to discuss key themes noted in segment reporting comment letters. Jay also shared his insights on some of the challenges companies face with segment reporting. In this episode you'll hear discussion of:1:23 - The goal and approach of the segment reporting guidance8:05 - Key themes in comment letters and why segment reporting continues to be an area of focus14:59 - Specific examples of SEC staff comments and key considerations when aggregating operating segments21:32 - SEC staff comments related to entity-wide disclosures and multiple performance measures26:21 - FASB's proposed changes to the segment guidance 32:26 - Jay's final advice for segment reporting going into year-end Want to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series. For further information on segment disclosures, listen to our Full disclosure podcast and read through our Financial statement presentation guide chapter on segment reporting.Jay Seliber is a partner in PwC's National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

PwC's accounting and financial reporting podcast
Revenue: 2022 SEC comment letter trends

PwC's accounting and financial reporting podcast

Play Episode Listen Later Nov 8, 2022 27:46


In each episode of our 2022 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance.This week, Heather Horn sat down with Angela Fergason, a partner in PwC's National Office, who shared her insights on the comments on the top line of the income statement, revenue, from the SEC staff to registrants this year.In this episode you'll hear discussion of:1:24 - Trends noted in the volume and type of comments on revenue6:04 - The increased focus on judgments made in disaggregated revenue disclosures10:25 - Presentation of revenue and cost of revenue in the income statement 15:52 - The continued SEC staff focus on gross vs. net presentation and identification of performance obligations19:52 - Comments on common industry-specific revenue arrangements 22:54 - Angela's advice for listeners when looking ahead to year-endWant to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series. We also have episodes specific to revenue, such as our revenue toolkit podcast miniseries that goes step by step through the revenue recognition model.Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She also consults on a range of financial reporting issues impacting technology companies. Angela is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

letter sec revenue presentation pwc national office sec's division corporation finance
PwC's accounting and financial reporting podcast
What's trending in SEC comments

PwC's accounting and financial reporting podcast

Play Episode Listen Later Nov 1, 2022 43:20


In each episode of our What's trending in SEC comments series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance for the most common topical areas of the financial statements.To kick off the series, this week Heather Horn sat down with Kyle Moffatt, a partner in PwC's National Office, to provide an overview of the 2022 comment letter trends, insights into the key priorities of the SEC, and what we can expect to see in the future based on the SEC's agenda. In this episode you'll hear discussion of:1:41 - The SEC's priorities and how they influence comment letters10:38 - The top comment letter trends in 2022 16:03 - How companies should consider “Dear Issuer” letters in their year-end reporting23:13 - The SEC staff's approach to comment letters and what we expect in the near future28:06 - The SEC staff's comments in proxy statements30:49 - Kyle's advice for SEC registrants on what to do if they receive a comment letterWant to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series.Kyle Moffatt is a partner in PwC's National Office where he consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance. Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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inSecurities
Top Takeaways from the SEC Speaks in 2022

inSecurities

Play Episode Listen Later Sep 15, 2022 50:28


Chris and Kurt recently attended PLI's annual SEC Speaks conference in Washington, DC. During the program, high-ranking SEC officials offered their views on the SEC's top regulatory and enforcement priorities. On this episode of the inSecurities Podcast, Chris and Kurt discuss their takeaways from the SEC Speaks in 2022. On the agenda: crypto regulation and enforcement, SEC rulemaking, auditing and accounting updates, and developments within the SEC's Division of Enforcement.

The ”I hung up on Warren Buffett” Podcast by Wolfpack Research
Episode 45 - SEC Commissioner Peirce - SPACs, Bitcoin , Buckeyes and Wolverines oh my

The ”I hung up on Warren Buffett” Podcast by Wolfpack Research

Play Episode Listen Later Sep 9, 2022 50:45


This week The Pack is joined by SEC Commissioner Hester M. Peirce (@HesterPeirce on twitter).  Commissioner Peirce was appointed to the U.S. Securities and Exchange Commission by the President and was sworn in on January 11, 2018. Prior to joining the SEC, Commissioner Peirce conducted research on the regulation of financial markets at the Mercatus Center at George Mason University. She was a Senior Counsel on the U.S. Senate Committee on Banking, Housing, and Urban Affairs and served as counsel to SEC Commissioner Paul S. Atkins. She also worked as a Staff Attorney in the SEC's Division of Investment Management. Commissioner Peirce earned her bachelor's degree in Economics from Case Western Reserve University and her JD from Yale Law School. Commissioner Peirce offers insights into crypto regulation and shares her regulatory philosophy.  In addition to discussing SPACS, stablecoin, and the proliferation of passive investing, she answers the age-old question, Who is better Michigan or Ohio State? Sit back have a drink and get ready to invest in the Wolf SPAC. SHOW LINKS Commissioner Pierce Twitter   https://www.sec.gov/biography/commissioner-hester-m-peirce    

Khurram's Quorum
018: Gurbir Grewal on nonlinear career paths, how government should use media, and identifying enforcement priorities

Khurram's Quorum

Play Episode Listen Later Sep 6, 2022 94:45


Gurbir Grewal's meteoric ascent to the Director of the SEC's Division of Enforcement may seem charmed, but here Gurbir shares the tradeoffs and costs of the steps he took. Gurbir is uniquely down-to-earth for someone so public and prominent, and this interview went deep into the decisions and experiences that shaped his path.

To the Extent That...
VC Law: Episode 5: Broker-Dealer issues with David Blass

To the Extent That...

Play Episode Listen Later Aug 24, 2022 32:49


Host Gary J. Ross discusses broker-dealer issues with David Blass, partner in Simpson Thacher's Investment Funds Practice and the former Chief Counsel of the SEC's Division of Trading and Markets. Gary and David chat about the outsize role that transaction-based compensation plays in determining whether someone is functioning as a broker, the Paul Anka and M&A broker no-action letters, the process of registering as a broker, and finally, whether David sees himself ever going back into public service.

inSecurities
Accounting & Audit Enforcement Trendspotting

inSecurities

Play Episode Listen Later Aug 11, 2022 48:39


Accounting Summer School continues as Chris and Kurt chat with Howard Scheck, a Partner at StoneTurn Group LLP and a former Chief Accountant in the SEC's Division of Enforcement. They discuss Howard's career as a JD/CPA, his experience in the Division of Enforcement, and his take on today's trends in accounting and audit enforcement.

To the Extent That...
Venture Capital Law: Episode 1: SEC Proposed Rules for Private Fund Advisers

To the Extent That...

Play Episode Listen Later Jun 6, 2022 43:09


Host Gary J. Ross talks with Alpa Patel, regulatory partner at Kirkland & Ellis and the former Branch Chief of the Private Funds Branch of the SEC's Division of Investment Management, regarding the SEC's proposed rules for private fund advisers. The proposed rules would require, among other items, enhanced disclosures to fund investors and annual audits, as well as prohibitions on many now-standard activities and practices, such as indemnification and limitation of liability.

S&C Critical Insights
SEC Enforcement: Trends and Practice Guidance

S&C Critical Insights

Play Episode Listen Later Mar 3, 2022 20:11


In this episode of S&C's Critical Insights, Steve Peikin, Jeff Scott and Julia Malkina discuss developments in the SEC's enforcement priorities. Steve is the head of the Firm's Securities & Commodities Investigations & Enforcement Practice and former co-director of the SEC's Division of Enforcement. Jeff and Julia are co-leads of the Firm's Securities Litigation Practice. They offer practical guidance for handling of enforcement investigations in light of the new presidential administration and recent enforcement trends.   Visit us at www.Sullcrom.com

Bribe, Swindle or Steal
FCPA Year in Review: 2021

Bribe, Swindle or Steal

Play Episode Listen Later Mar 2, 2022 32:41


Cheryl Scarboro presents TRACE's annual FCPA Year in Review webinar and we listen in for today's podcast. Cheryl was Associate Director in the SEC's Division of Enforcement for almost twenty years and served as its first ever Chief of the FCPA Unit.  She is now a partner in Simpson Thacher & Bartlett's Washington DC office.

Dallas Business Podcast
32. Commissioner Hester Peirce, U.S. Securities and Exchange Commission: The Economy as a Connector, Economic Incentives, Regulation and the Future of DeFi

Dallas Business Podcast

Play Episode Listen Later Feb 15, 2022 29:18


Commissioner Peirce and I discuss America's economic inventive structure, regulatory framework around DeFi, and individual choice.  Hester M. Peirce was appointed by President Donald J. Trump to the U.S. Securities andExchange Commission and was sworn in on January 11, 2018. Prior to joining the SEC, Commissioner Peirce conducted research on the regulation of financial markets at the Mercatus Center at George Mason University. She was a Senior Counsel on theU.S. Senate Committee on Banking, Housing, and Urban Affairs, where she advised Ranking Member Richard Shelby and other members of the Committee on securities issues.Commissioner Peirce served as counsel to SEC Commissioner Paul S. Atkins. She also worked as a Staff Attorney in the SEC's Division of Investment Management. Commissioner Peirce was an associate at Wilmer, Cutler & Pickering (now WilmerHale) and clerked for Judge Roger Andewelt on the Court of Federal Claims.Commissioner Peirce earned her bachelor's degree in Economics from Case Western Reserve University and her JD from Yale Law School.https://www.sec.gov/news/speech/peirce-2021-10-08https://www.econlib.org/library/Essays/hykKnw.htmlHost, Earlina Green Hamilton 

Between The Lines
A Deep Dive Into The Private Funds Risk Alert

Between The Lines

Play Episode Listen Later Feb 11, 2022 40:39


A Deep Dive into the Private Funds Risk AlertThis week on Between The Lines, host Darren Mooney sits down with Greg Larkin, a Partner in the Private Investment Funds practice of Goodwin Proctor, to discuss the recent Risk Alert issued by the SEC's Division of Examinations. Join the pair as they break down the Alert and offer insightful tips on how to react to the Alert's observations.Key Takeaways:00:22    Show overview/ Guest introduction00:32    Private fund advisers are under the microscope04:33    Conduct inconsistent with governing fund documents05:59    What can Hedge Funds do without LPACs?07:53    Post-commitment fee calculation issues11:35    Recycling of investment capital14:50    Staying within your investment strategy16:23    Notable issues related to advertising20:15    Substantiation rules the day21:00    Due diligence best practices28:40    Incorporating new elements to portfolio investment oversight33:28    Muddying the waters on hedge clauses38:38    Closing thoughts: There's more comingLinks: Between the Lines:   Email Us | Greyline.co | The Risk Alert Greg Larkin:  LinkedIn | Website 

PwC's accounting and financial reporting podcast
Non-GAAP: What's trending in SEC comments

PwC's accounting and financial reporting podcast

Play Episode Listen Later Dec 21, 2021 37:28


In each episode of our What's trending in SEC comments series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance for the most common topical areas of financial reporting.This week we focus on non-GAAP measures. Kyle Moffatt, a partner in PwC's National Office, joined Heather Horn to break down some of the questions raised in these comments, giving you a deeper understanding of the SEC staff's expectations, as well as context and insights into the non-GAAP rules.Topics include:1:35 - Background on non-GAAP measures. Disclosing non-GAAP measures is a common way companies supplement their financial statement disclosures to further tell the story of their businesses. Kyle gives some helpful background and examples of some commonly utilized measures.8:57 - Presenting non-GAAP measures. There can be pitfalls associated with these alternative measures. Kyle and Heather discuss what issuers should keep in mind when deciding how to present them.22:30 - What types of comments are companies receiving? Kyle discusses the main themes of the SEC staff's non-GAAP comments. Common questions relate to prominence relative to GAAP metrics, the reconciliation of each non-GAAP metric to GAAP, and the appropriateness of adjustments, among others.27:43 - Key takeaways and reminders. We close with some future areas to pay attention to and helpful advice for year-end reporting. Heather tries to stump Kyle with some niche accounting and pop culture questions.Want to learn more?Listen to our previous comment letter podcasts on MD&A, Debt, warrants, and equity, Revenue, Goodwill, Inventory and cost of sales, and Segment reportingListen to What you missed at the 2021 AICPA ConferenceIn the loop: To GAAP or to non-GAAP COVID-19: What you should knowSee our overview of SEC Comment Letter TrendsStaff Accounting Bulletin Topic 11 BSEC Non-GAAP Financial Measures: Questions and Answers of General ApplicabilityKyle Moffatt is a partner in PwC's National Office where he consults with engagement teams and audit clients on SEC reporting matters. He joined PwC in April 2020 after spending almost 20 years with the SEC.Transcripts available upon request. Please send requests to us_podcast@pwc.com.

PwC's accounting and financial reporting podcast
MD&A: What's trending in SEC comments

PwC's accounting and financial reporting podcast

Play Episode Listen Later Dec 14, 2021 37:12


In each episode of our What's trending in SEC comments series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance for the most common topical areas of financial reporting.This week we focus on MD&A. Ryan Spencer, a partner in PwC's National Office, joined Heather Horn to break down some of the questions raised in these comments, giving you a deeper understanding of the SEC staff's expectations, as well as context and insights into the MD&A rules.Topics include:1:30 - What has changed about the MD&A rule? The SEC recently amended the MD&A rule with a goal of modernizing, simplifying, and enhancing the disclosure requirements. Ryan explains the primary changes.10:56 - What types of comments are companies receiving? Ryan discusses the main themes of the SEC staff's MD&A comments. Common questions relate to results of operations, liquidity and capital resources, and critical accounting estimates.15:37 - Results of operations. Results of operations continues to be an area of focus for SEC comments. Ryan and Heather discuss areas where the SEC staff has typically asked questions and how preparers can get the disclosures right the first time.17:24 - Liquidity and capital resources. Ryan brings listeners up to speed on key themes related to liquidity and capital resources, including short and long term liquidity, operating cash flows, and covenants.21:04 - Critical accounting estimates. Companies' disclosures have to address uncertainties associated with methods and assumptions related to critical accounting estimates. Ryan helps break down this complicated topic.24:47 - Key takeaways and reminders. We close with some future areas to pay attention to and helpful advice for year end reporting. Heather tries to stump Ryan with some niche accounting questions.Want to learn more?Listen to our previous comment letter podcasts on Debt, warrants, and equity, Revenue, Goodwill, Inventory and cost of sales, and Segment reportingIn the loop: Don't wait until the SEC staff asks you about climate changeSee our overview of SEC Comment Letter TrendsRyan Spencer is a Partner at PwC's National Office specializing in SEC financial reporting. He has over 20 years of experience serving clients and is a frequent contributor to PwC's publications and communications.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. Transcripts available upon request. Please send requests to us_podcast@pwc.com.

PwC's accounting and financial reporting podcast
Debt, warrants, and equity: What's trending in SEC comments

PwC's accounting and financial reporting podcast

Play Episode Listen Later Nov 30, 2021 48:58


In each episode of our What's trending in SEC comments series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance for the most common topical areas of the financial statements.This week we focus on debt, warrants, and equity. Tom Barbieri, a Deputy Chief Accountant in PwC's National Office, and John Horan, Managing Director in PwC's National Office, joined Heather Horn to break down some of the questions raised in these comments, giving you a deeper understanding of the SEC staff's expectations, as well as context and insights into the GAAP requirements.Topics include:1:46 - What types of comments are companies getting? Tom and John discuss the main themes of comments. Common questions relate to SPAC warrants and earnouts, debt modifications, preferred stock, embedded derivatives, and EPS.4:51 - SPAC warrants and earnouts. Accounting for SPAC warrants and earnouts can be complicated. John and Heather discuss the types of questions the SEC is asking on this topic and some best practices for determining the appropriate accounting.17:34 - Debt modifications and extinguishments. Accounting for a troubled debt restructuring, debt modifications, or extinguishment can be complex. Tom and Heather discuss some tips for getting disclosures about these transactions right the first time.23:51 - Preferred stock. John and Heather talk about the SEC staff's interest in particular topical areas when asking about preferred stock. 31:05 - Embedded derivatives. Tom and Heather discuss accounting for embedded conversion features and other redemption provisions, and the importance of providing the right level of context for these in your disclosures.33:51 - Earnings per share. EPS has continued to be an ongoing area of focus for the SEC staff. John explains some of the areas that might give rise to a comment.40:03 - Key takeaways and reminders. We close with some future areas to pay attention to and helpful advice for issuers to address these issues heading into year end. Heather tries to stump Tom and John with some niche accounting questions.Want to learn more?Listen to our previous comment letter podcasts: Revenue: What's trending in SEC comments, Goodwill: What's trending in SEC comments, and Inventory and cost of sales: What's trending in SEC comments, Segment reporting: What's trending in SEC commentsFinancial statement presentation guide: Chapter 5: Stockholders' Equity, Chapter 12: Debt, Chapter 19: Derivatives and HedgingSee our overview of SEC Comment Letter Trends

inSecurities
Special Episode: The 2021 SEC Enforcement “Report”

inSecurities

Play Episode Listen Later Nov 24, 2021 37:07


The SEC's Division of Enforcement just released its enforcement results for FY2021. On this special episode, Chris and Kurt break down the results with Quinn Emanuel partner, Sarah Heaton Concannon. https://www.pli.edu/insecurities

sec enforcement quinn emanuel sec's division
PwC's accounting and financial reporting podcast
Segment reporting: What's trending in SEC comments

PwC's accounting and financial reporting podcast

Play Episode Listen Later Nov 23, 2021 37:50


In each episode of our What's trending in SEC comments series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance for the most common topical areas of the financial statements.This week we focus on segment reporting. Matt Sabatini and Reto Micheluzzi, PwC National Office partners, joined Heather Horn to break down some of the questions raised in these comments, giving you a deeper understanding of the SEC staff's expectations, as well as context and insights into the GAAP requirements.Topics include:1:49 - A refresher on segment disclosures. Matt and Reto set the stage with an overview of the disclosure rules. Reto updates listeners on the current FASB project that may change the current segment disclosure requirements.10:09 - What types of comments are companies getting? Matt and Reto discuss the main themes of recent comments. Common questions relate to how the company determined the Chief Operating Decision Maker, identified operating segments, and aggregated its operating segments to reportable segments, and the completeness of its entity-wide segment disclosures.15:19 - Identifying reportable segments. Matt gives an overview of comments that issuers have received about identifying reportable segments. Issuers typically receive more questions when identifying only one reportable segment. 17:12 - Entity wide disclosures. There are a number of entity-wide disclosures that must be made even when the entity identifies only one reportable segment. Matt and Heather discuss some tips for getting these right.20:19 - Aggregation of operating segments. Aggregating operating segments into a reportable segment is an area that requires significant judgment. Matt and Reto give some of the steps you can take to avoid common pitfalls.31:32 - Key takeaways and reminders. We close with helpful advice to address segment issues heading into year end. Heather tries to stump Matt and Reto with some niche accounting questions.Want to learn more?Listen to our previous comment letter podcasts Revenue: What's trending in SEC comments, Goodwill: What's trending in SEC comments, and Inventory and cost of sales: What's trending in SEC commentsFinancial statement presentation guide: Chapter 25 segment reporting, including the flowchart for determining reportable segments in Chapter 25.3See our overview of SEC Comment Letter TrendsMatt Sabatini is a partner in PwC's National Office.Reto Micheluzzi is a partner in PwC's National Office with over 25 years of experience solving his clients' most complex accounting and financial reporting issues, creating a path through the dense regulatory framework and bodies of rules. He has a deep understanding of the demands associated with today's accounting complexities and potential SEC reporting issues, primarily related to M&A, consolidation, reorganizations, and income taxes.

PwC's accounting and financial reporting podcast
Inventory and cost of sales: What's trending in SEC comments

PwC's accounting and financial reporting podcast

Play Episode Listen Later Nov 16, 2021 31:05


In each episode of our What's trending in SEC comments series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance for the most common topical areas of the financial statements.This week we focus on inventory, cost of sales, and income statement presentation. Pat Durbin, PwC National Office Partner, joined Heather Horn to break down some of the questions raised in these comments, giving you a deeper understanding of the SEC staff's expectations, as well as context and insights into the GAAP requirements.Topics include:3:34 - What types of comments are companies getting? Pat and Heather discuss the main themes of comments. Common questions relate to the presentation of cost of sales and other income statement line items.5:21 - Completeness of cost of sales. Pat gives an overview of comments that issuers have received about the completeness of their cost of sales and how to avoid some common pitfalls.11:25 - What about the classification of operating expenses? There is very little explicit guidance on how to classify operating expenses and what to disclose. Pat and Heather discuss some of the diversity in practice and tips for providing the right level of context in your disclosures.18:27 - Navigating the application of SAB topic 11-B. Pat and Heather discuss how to appropriately address this SEC staff guidance.22:14 - What about comments on inventory? Inventory can be a material line item for many companies that sell products. Pat and Heather discuss some of the inventory comment letter trends and some of the disclosures that might require more judgment.24:09 - Key takeaways and reminders. Pat closes with helpful advice when making decisions about income statement presentation, and how to convey key judgments to the reader. Heather tries to stump Pat with some niche accounting questions.Want to learn more?Listen to our previous comment letter podcasts Revenue: What's trending in SEC comments and Goodwill: What's trending in SEC commentsPwC's Inventory GuideSee our overview of SEC Comment Letter TrendsPat Durbin is a partner in PwC's National Office. Pat is a partner in PwC's Assurance National Office and has over 30 years of experience. He has expertise in financial reporting and extensive experience serving board, C-suite, and senior management level executives across a variety of industries and geographies both in the US and internationally. Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.

PwC's accounting and financial reporting podcast
Goodwill: What's trending in SEC comments

PwC's accounting and financial reporting podcast

Play Episode Listen Later Nov 9, 2021 33:06


In each episode of our What's trending in SEC comments series, our guests bring you the latest themes in comment letters from the SEC's Division of Corporation Finance for the most common topical areas of the financial statements.This week we focus on goodwill. Jay Seliber, PwC National Office Partner, joined Heather Horn to break down some of the questions raised in these comments, giving you a deeper understanding of the SEC staff's expectations, as well as context and insights into the GAAP requirements.Topics include:1:40 - What types of comments are companies getting? Jay and Heather discuss the main themes of comments. Common questions relate to the determination of reporting units, the timing of goodwill impairments, and disclosures of impairments and at-risk goodwill.4:30 - Reporting units. Jay gives an overview of comments that issuers have received about their determination of reporting units and how to avoid some common pitfalls.10:41 - What about the timing of goodwill impairments? Impairment tests require a significant amount of judgment. Jay and Heather discuss how to navigate this complex area and some tips for identifying impairment indicators early to head off questions over timing.15:04 - Disclosures of impairments and at-risk reporting units. Jay and Heather discuss how to appropriately foreshadow at-risk reporting units, as well as a few often-overlooked disclosures that may solicit comments.23:58 - Key takeaways and reminders. Jay closes with helpful advice for issuers when responding to an SEC comment letter. Heather tries to stump Jay with some niche accounting questions.Want to learn more?Listen to our previous comment letter podcast Revenue: What's trending in SEC commentsRead section 8.9, Goodwill, in our Financial Statement Presentation guideSee our overview of SEC Comment Letter TrendsJay Seliber is a partner in PwC's National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force. Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.

People Places Planet Podcast
The Enforcement Angle: SEC's Kelly Gibson

People Places Planet Podcast

Play Episode Listen Later Nov 3, 2021 35:22


As investor demand for climate and other environmental, social, and governance (ESG) products soars, the Securities and Exchange Commission (SEC) has formed a climate and ESG task force and taken other steps. In this episode, Justin Savage, a Partner at Sidley Austin LLP, talks with Kelly Gibson, Director of the SEC's Philadelphia Regional Office who also leads the Climate and ESG Task Force within the SEC's Division of Enforcement, and Ranah Esmaili, a partner at Sidley who recently joined the firm from the SEC's Asset Management Unit within the Division of Enforcement. The panel discusses a wide range of SEC developments, including potential rulemaking, risk alerts, investor bulletins, and the task force. ★ Support this podcast ★

MoFo Perspectives Podcast
Above Board Podcast: 2021 Cyber Events Shaping the Horizon

MoFo Perspectives Podcast

Play Episode Listen Later Oct 18, 2021 18:18


The alarming rise in cybersecurity attacks in 2021 has raised risk mitigation stakes to a new level for boards. In this episode of MoFo's Above Board podcast, host, co-chair of MoFo's Corporate Finance | Capital Markets practice, and former Chief Counsel of the SEC's Division of Corporation Finance Dave Lynn speaks with Alex Iftimie, co-chair of MoFo's Global Risk and Crisis Management group, and Brandon Van Grack, who also co-chairs the group and serves as co-chair of the firm's National Security practice.

CryptoLogic Podcast
EP 030: XRP Vs SEC Case Is Ending Soon

CryptoLogic Podcast

Play Episode Listen Later Jun 29, 2021 13:56


In This Video we will be discussing why we believe the XRP Vs SEC Case Is Ending Soon and why this is such bullish XRP Sec News. The U.S. Securities and Exchange Commission (SEC) and Ripple Labs are jousting — yet again — over discovery in the SEC v. Ripple lawsuit. This time, the SEC wants to block Ripple from calling Silicon Valley lawyer William Hinman, the former director of the SEC's Division of Corporation Finance, to testify, according to a new legal filing. --- Support this podcast: https://anchor.fm/cryptologicpod/support

CryptoLogic Podcast
EP 030: XRP Vs SEC Case Is Ending Soon

CryptoLogic Podcast

Play Episode Listen Later Jun 29, 2021 13:56


In This Video we will be discussing why we believe the XRP Vs SEC Case Is Ending Soon and why this is such bullish XRP Sec News. The U.S. Securities and Exchange Commission (SEC) and Ripple Labs are jousting — yet again — over discovery in the SEC v. Ripple lawsuit. This time, the SEC wants to block Ripple from calling Silicon Valley lawyer William Hinman, the former director of the SEC's Division of Corporation Finance, to testify, according to a new legal filing. --- Support this podcast: https://anchor.fm/cryptologicpod/support

KPMG's Investment Management Perspectives
SEC's Division of Examinations 2021 exam priorities

KPMG's Investment Management Perspectives

Play Episode Listen Later May 3, 2021 15:12


KPMG's Investment Management Perspectives
SEC's Division of Examinations 2021 exam priorities

KPMG's Investment Management Perspectives

Play Episode Listen Later May 3, 2021 15:12


The Encrypted Economy
Joel Revill, CEO of Two Ocean Trust on Becoming a "Qualified Custodian" for Digital Assets in Wyoming - E2

The Encrypted Economy

Play Episode Play 30 sec Highlight Listen Later Nov 24, 2020 23:59 Transcription Available


In this podcast, I spoke with Joel Revill Founder and CEO of Two Ocean Trust, a Wyoming Chartered Trust Company offering wealth management services to high-net-worth individuals and family offices.  We discussed the headline making no action letter it received from the Wyoming Division of Banking recognizing it as a qualified custodian for digital assets under the Adviser's Act.  Although more significant for digital assets that are securities, it is a first of its kind for a state chartered trust and provides greater regulatory clarity for Two Ocean Trust under Wyoming's fairly developed digital asset laws.  The clarity comes with greater supervision for Two Ocean Trust and with that, greater assurance to its client base. At the time of this interview, we knew that the Division of Banking had notified the SEC about the no action letter.  Shortly after this interview, SEC's Division of Investment Management released a public statement on the no action letter and invited the industry to comment on the application of the custody rule to digital assets and specifically to how it relates to the definition of qualified custodians under the rule.In this inaugural episode of The Encrypted Economy, Joel talks about:·         His background & why Wyoming is compelling for asset management·         What it's like working with Wyoming's digital asset community & the Division of Banking·         His vision for Two Ocean Trust & differentiators·         The significance of the Division of Banking's no action letter & how clients should view it·         What is driving clients to consider allocating to digital assets like Bitcoin.Reading ListTo learn more about the topics Joel and I discussed, check out this reading list.·         Two Ocean Trust Website·         Joel Revill LinkedIn·         Division of Banking No-Action Letter·         SEC Statement on the No-Action Letter·         My Article on Digital Asset Regulation·         Key Wyoming Regulationso   Wyoming SF 0125 - Digital Assets-Existing Lawo   Wyoming HB 0074 - Special Purpose Depository Institutionso   Wyoming Digital Asset Custody Ruleso   Wyoming SF 011 - Property Taxation Digital Currencieso   Wyoming Uniform Trust Code·         Investment Advisers Act of 1940Tags: Investment AdvisorsBitcoinCrytocurrencyDigital Asset

The Social Network Show
Telltale Signs of Investment Scams from FINRA//Building Your Biz Beyond The Launch with Joey Sargent

The Social Network Show

Play Episode Listen Later Oct 22, 2014 46:47


The Social Network Show welcomes the 4th episode in the series with the National Crime Prevention Council (NCPC) during Crime Prevention Month. The first half of the show features Michelle Boykins as the Co-host with Dr. J in an interview with Gerri Walsh from the Financial Industry Regulatory Authority. The second half of the show features Joellyn Sargent, Founder and President of Claravon Consulting who provides strategic counsel to leaders in business. PART ONE:  Telltale Signs of Investment Scams from FINRA Gerri Walsh, Vice President, Investor Education at the Financial Industry Regulatory Authority (FINRA), and President of FINRA Investor Education Foundation, tells us about FINRA, the FINRA Investor Education Foundation and the partnership with NCPC. Many are victims of investment fraud and this show will increase your awareness of what is happening out there and what to watch out for. Learn how the scams can reach you; what a "Pump and Dump Stock Scheme" is; and who is the typical victim of financial fraud. Gerri also shares the "5 Persuasion Tactics" that people use to scam you and how to get help if you are a victim of financial fraud. If you are a victim of financial fraud, please visit  SaveAndInvest.org. Gerri Walsh is Senior Vice President of Investor Education at the Financial Industry Regulatory Authority (FINRA). In that capacity, she manages FINRA's investor education initiatives, including developing and implementing new programs, creating interactive tools for investors, publishing print and online educational materials, and coordinating with government and non-profit partners. She also serves as President of the FINRA Investor Education Foundation, where she manages the Foundation's grant making and programmatic efforts to educate and protect investors. Her work focuses especially on research to advance understanding of the relationships among financial literacy, financial capability and financial well-being; leveraging distribution channels to distribute effective, unbiased financial education resources; and incubating scalable, sustainable programs focused on traditionally underinvested groups of Americans, including young adults, women, Native Americans and members of the U.S. military. She joined FINRA in May 2006. Prior to joining FINRA, Ms. Walsh was Deputy Director of the Securities and Exchange Commission's Office of Investor Education and Advocacy (OIEA) and, before that, Special Counsel to the Director of OIEA. She also served as a senior attorney in the SEC's Division of Enforcement, investigating and prosecuting violators of the federal securities laws. From 1989 to 1994, Ms. Walsh was an associate with Hogan & Hartson (now Hogan Lovells LLC), a Washington, DC law firm. She received her J.D. from NYU School of Law in 1989 and her B.A. from Amherst College in 1985. She is a member of the New York and District of Columbia bars. She volunteers on the Board of Gifts for the Homeless, Inc. (a non-profit organization dedicated to helping the homeless in the greater DC area). PART TWO: Building Your Biz Beyond The Launch with Joey Sargent--starts at 18:16 Joellyn Sargent, Founder and President of Claravon Consulting and author, shares advice for businesses who are beyond the launch.  Here are some of the topics she addresses in this show:  the importance of a website; how to find a social media expert; the importance of using social media and social listening; the necessity of having a blog; how to find keywords and content marketing, and the benefit of curating articles. Joey recommends looking at the website hashtagify to learn more about using the best hashtags and you can learn more about Joey at Claravon Consulting, and connect with her on LinkedIn and Twitter. Also, check out her books on Amazon. Joellyn ‘Joey' Sargent provides strategic counsel to leaders in businesses ranging from start-ups to Fortune 100 companies. Her clients consistently achieve significant perf...