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Shadow SEC
Shadow SEC Statement No. 8: Comment on SEC Proposal to Allow Companies to File Semiannual Reports on New Form 10-S in Lieu of Quarterly Form 10-Q Filings
In a statement published last September, here, we argued that the SEC should maintain its current system of mandatory quarterly reporting and not adopt President Trump’s recommendation that the United States shift to a system based on six-month filings. …
Shadow SEC Statement No. 7: Too Much, Too Fast
We concur with the view of SEC Chair Paul Atkins that the SEC has a three-fold mission as enunciated by Congress in the Securities Exchange Act: Protecting investors, furthering capital formation, and safeguarding fair, orderly, and efficient markets. We also …
Shadow SEC Statement No. 6: The Not-So-GENIUS Act
On June 17, 2025, the Senate passed the GENIUS Act, shorthand for the Guiding and Establishing National Innovation for U.S. Stablecoins Act, by a bipartisan vote of 68-30, with 18 Democratic Senators supporting the Bill. The GENIUS Act would amend …
Shadow SEC Statement No. 5
Last month, we circulated Shadow SEC Statement No. 4, which urged caution in legislating major changes in the Public Company Accounting Oversight Board (“PCAOB”) or its funding. The Senate nonetheless took up a bill that would have transferred the PCAOB’s …