Avoiding material omissions under the federal securities laws / Leonard W. Wang, Esq., Former Assistant Director, Division of Enforcement, SEC.
2009
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Items
Details
Author
Title
Avoiding material omissions under the federal securities laws / Leonard W. Wang, Esq., Former Assistant Director, Division of Enforcement, SEC.
Added Corporate Author
Imprint
Arlington, VA : Tax Management, [2009]-
Description
1 online resource.
Frequency
Updated irregularly
Series
Accounting policy & practice series ; 5509-2nd.
Formatted Contents Note
Detailed analysis. Nature of duty
Legal foundations of disclosure requirements
Development of the duty to avoid material omissions
The heart of the duty to avoid material omissions: materiality
The duty to correct prior disclosures
The duty to update prior disclosures
Application of the duty to avoid material omissions in the SEC enforcement process
Planning points: practical guidelines for evaluating materiality of undisclosed information
Conclusion
Working papers.
Legal foundations of disclosure requirements
Development of the duty to avoid material omissions
The heart of the duty to avoid material omissions: materiality
The duty to correct prior disclosures
The duty to update prior disclosures
Application of the duty to avoid material omissions in the SEC enforcement process
Planning points: practical guidelines for evaluating materiality of undisclosed information
Conclusion
Working papers.
Summary
"Bloomberg Tax Accounting Portfolio 5509-2nd, Avoiding Material Omissions Under the Federal Securities Laws, discusses one of the most challenging problems in the federal securities laws: complying with rules against lying through omission. Lying through omission consists of making statements that paint an incomplete or inaccurate picture, and not revealing other material information necessary to present the entire truth. The federal securities laws require public companies, whenever they speak, to disclose all material information that would be necessary to present the truth entirely. This duty, which the Portfolio calls the "duty to avoid material omissions," is found in both SEC antifraud and financial reporting rules. Failure to comply with this duty can, in extreme cases, result in criminal prosecution."
Bibliography, etc. Note
Includes bibliographical references.
Source of Description
Title from title screen (viewed Aug. 27, 2012).
Location
www
Linked Resources
Alternate Title
BNA Premier package.
Language
English
Record Appears in