On the Role of Companies’ External Securities Law Advisors – Facilitators or Gatekeepers?

In order to retain their access to large scale capital at low cost, there is no question that companies need to actively manage their compliance with the ever-increasing regulatory requirements in the United States pertaining to corporate disclosure. Managing this obligation isn’t easy and, inter alia, necessitates securities law expertise. In a recent paper, we explore one avenue that companies use to navigate the complexity of disclosure regulation – seeking advice from external securities law experts.

Pursuant to Section 408 of Sarbanes Oxley Act of 2002, the Security and Exchange Commission’s (SEC) Division of Corporation Finance (DCF) enforces … Read more