Deal Diary

The world has changed a lot since our 2020 report. A global pandemic; a reckoning on race, inequality and social justice; a climate crisis; an economic shock; and increased political polarization have created challenging dynamics for companies and boards globally. The role of the board in managing risk and charting the course ahead is more critical today than ever before. This report delves into these wide-ranging and interlocking issues and offers insight on how directors and management must proactively embrace their stewardship roles in this brave new world.

On August 26, 2020, the Securities and Exchange Commission (SEC) voted to adopt amendments that modernize the description of business (Item 101), legal proceedings (Item 103) and risk factor disclosures (Item 105) that registrants are required to make pursuant to Regulation S-K. The amendments are intended to improve the readability of disclosure documents and discourage repetition and reduce the disclosure of information that is not material, as well as simplify compliance for registrants. The final amendments will be effective 30 days after publication in the Federal Register.

Akin Gump provides details on the June 23, 2020, Office of the Chief Accountant (OCA) of the Securities and Exchange Commission’s (SEC) statement on the importance of high-quality financial reporting in light of the impact of, and uncertainties related to, COVID-19.

Read more