7 Mar 2025
📊SEC Rule 10A-1 Reinstatement
Submission for OMB Review; Comment Request; Reinstatement Without Change: Rule 10A-1
Summary
The Securities and Exchange Commission announces a request for OMB review regarding the reinstatement of Rule 10A-1, which mandates reporting on illegal acts that could materially affect financial statements. Businesses must be aware of compliance requirements and reporting obligations to the SEC, particularly in relation to auditor communications.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The content outlines Rule 10A-1 which mandates reporting on illegal acts related to financial statements, requiring timely notification to the SEC. This affects registrants' compliance and auditing processes, imposing potential costs and administrative burdens.