"This matter highlights the critical need for effective internal accounting controls throughout the entirety of a company's operations," noted Charles Cain, chief of the SEC's FCPA Unit.
So far this year, 6 of 30 environmental proposals and 10 of 107 social proposals have passed, according to the latest ESG shareholder proposal study from Georgeson.
"The SEC's climate disclosure proposal is the most extensive, comprehensive and complicated disclosure initiative in decades," said Wilmer Cutler Pickering Hale and Dorr partner Meredith Cross, a former SEC official.
A new survey from the American Chamber of Commerce in China shows that coronavirus woes are bringing economic gloom and uncertainty to international businesses, many of which say it's simply too soon to know how bad things will get.
"Now's the time to be ramping up your effort" to obtain exclusions, said Jason Waite, a partner at Alston & Bird who leads the firm's international trade and regulatory group in Washington, D.C. But he warned that there are "still a lot of unknowns."