Search Results for keywords:"financial statements"

The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget (OMB) to reinstate a previously approved information collection requirement under Rule 10A-1. This rule pertains to the reporting of certain issues related to illegal acts detected by auditors that impact a company's financial statements. Although historically fewer than ten reports have been filed annually, the SEC anticipates the possibility of more frequent submissions in the future. They invite the public to comment on various aspects of the information collection, including its necessity and the burden it imposes on respondents, before April 7, 2025.

The Department of Defense (DoD) is seeking public comment on a proposal submitted to the Office of Management and Budget (OMB) regarding the collection of information related to Revitalizing Base Closure Communities. This proposal would require Local Redevelopment Authorities (LRAs) that have received property from closed military installations to reinvest proceeds from its use to support economic redevelopment for at least seven years. The DoD aims to ensure compliance through annual financial statements. Comments can be submitted online by February 18, 2021.

The Securities and Exchange Commission (SEC) has requested an extension from the Office of Management and Budget (OMB) for the continued collection of information under Rule 30b2-1. This rule, part of the Investment Company Act of 1940, requires investment companies to file reports with the SEC that include financial statements shared with investors. The information helps meet legal disclosure requirements and offer investors necessary details for evaluating funds. The SEC is seeking public comments on this information collection within 30 days.

The Securities and Exchange Commission (SEC) is seeking approval from the Office of Management and Budget to extend an existing collection of information under Rule 15c2-12, which involves municipal securities disclosure. This rule requires certain actions from underwriters, like obtaining important financial statements from municipal securities issuers before making transactions, and ensuring that issuers provide ongoing financial information to the Municipal Securities Rulemaking Board. The SEC estimates that it will take hundreds of thousands of hours per year for issuers, broker-dealers, and the MSRB to comply with the rule and that compliance will cost millions of dollars over the next three years. The public can view and comment on this request by early March 2025.