Public Companies: New SEC Rules Require Reporting of Iran-Related Activities
As the 2013 proxy season ramps up, public companies are reminded of the new SEC reporting requirements contained in the recently enacted Iran Threat Reduction and Syria Human Rights Act (ITR Act). From law firm Skadden Arps:
“Companies that are required to provide the new disclosures will need to move quickly to ensure that they are ready to provide the new disclosures within the timetable for initial reporting. Companies also should be mindful of the fact that the conduct described in this part of the ITR Act may violate other U.S. laws — specifically the U.S. economic sanctions with respect to Iran, which include criminal penalties — and also may meet the criteria for the imposition of broader economic sanctions against the company.”
Read the full update, New Requirements for SEC Reporting Companies to Disclose Certain Iran-Related Activities and Transactions - Skadden, Arps, Slate, Meagher & Flom LLP»
