The SEC Office of Investor Education and Advocacy has issued a bulletin to provide information on SEC's delinquent filing program. The SEC stated that it has the authority to suspend or revoke the registration of companies that fail to submit periodic reports, file materially deficient periodic reports, or do not submit the reports in a timely manner. The SEC explained that timely and complete submissions of periodic reports provides investors with information to help them make informed investment decisions. See: SEC Investor Bulletin.

At the Transatlantic Corporate Governance Dialogue Conference, SEC Commissioner Daniel M. Gallagher voiced his concerns about the role of proxy advisors and the need for the SEC to take regulatory action to mitigate the potentially conflicted role of proxy advisory firms. Commissioner Gallagher described what he views as the "outsized role" of proxy advisory firms in corporate governance, and stated that it is largely a result of the "unintended consequences" of SEC action. In 2003, the SEC adopted new rules and rule amendments, which required an investment adviser that exercises voting

The SEC has charged a banking organization and its former CFO with improper accounting of commercial real estate loans in the midst of the financial crisis. According to the SEC's order, the bank experienced a "substantial increase in non-performing assets" as the real estate market crashed in 2007 and 2008, when borrowers were failing to repay mortgage loans. In order for the loans to be sold, U.S. accounting rules state, the company must classify them as "held for sale" and value them at fair value. To avoid a 132-percent pretax loss, the bank classified the loans as "held for investment,"

The SEC has published additions to its Securities Act Compliance and Disclosure Interpretations ("C&DIs"). The additions cover questions regarding Rule 506 ("Exemption for Limited Offers and Sales without Regard to Dollar Amount of Offering"), including when an issuer is required to determine whether the bad actor disqualification applies, clarification of the definition of "affiliated issuer," and disqualifications under the rule. See: Updated SEC C&DIs. Related news: SEC Updates Securities Act Rule Q&A (November 14, 2013).

The IRS and the Treasury have published Final Regulations and Proposed Regulations under Section 871(m) of the Internal Revenue Code providing for the withholding of tax on payments under equity swaps and certain other equity-linked instruments that are contingent upon, or determined by reference to, U.S.-source dividends. The Final Regulations adopt with minimal changes the rules adopted in Temporary Regulations issued in 2012. Very generally, these rules require withholding on payments that are contingent on, or determined by reference to, U.S.-source dividends that are made to a non-U.S