SEC Press press_release 9 KB 4,190 chars

SEC Advisory Committee on Smaller Companies Publishes Agenda, Names Witness Panels, for New York Meeting

Release: 2005-90

summary

No fraud or misconduct is alleged in the SEC's June 2005 advisory committee meeting, which gathered input from industry experts to evaluate regulatory burdens on smaller public companies under Sarbanes-Oxley, with no charges, penalties, or enforcement actions taken.

paragraph

The SEC's Advisory Committee on Smaller Public Companies held a public meeting on June 16–17, 2005, at Columbia University to assess the regulatory impact of the Sarbanes-Oxley Act on smaller companies. Witnesses included executives from Nasdaq, the American Stock Exchange, BDO Seidman, community banks, and legal scholars, all providing non-adversarial testimony to inform potential regulatory reforms. No financial penalties, charges, or enforcement actions were involved; the committee’s goal was to issue a final report with recommendations by April 2006 to align regulatory costs with investor benefits.

narrative

The SEC's Advisory Committee on Smaller Public Companies convened a public meeting on June 16–17, 2005, at Columbia University Law School to examine the regulatory burdens imposed by the Sarbanes-Oxley Act on smaller public companies. The committee, established under Chairman William H. Donaldson, invited testimony from industry leaders including Nasdaq’s Edward Knight, AMEX’s Neal Wolkoff, auditors from BDO Seidman, bank representatives from the Independent Community Bankers of America and American Bankers Association, and legal experts such as Professor William Carney and CEO Michael Taglich. This was a fact-finding, advisory session with no allegations of fraud, misconduct, or enforcement actions; all participants provided input to help shape potential regulatory reforms. The committee had previously solicited public comments on its agenda and planned to revise its recommendations based on the testimony received. Staff support was provided by the SEC’s Division of Corporation Finance, led by Director Alan Beller, who emphasized the academic setting’s suitability for constructive dialogue. The meeting was webcast live on the SEC’s website to ensure transparency, and the committee was tasked with delivering a final report by April 2006 to ensure regulatory costs were proportionate to investor protections. No financial penalties, charges, or outcomes related to violations were associated with this process.

Enriched metadata

Scheme: non-corporate (100%)

Classified non-corporate(confidence 100%). No EDGAR filing fingerprint (criminal/DOJ-side scheme). detection rule →

Extracted insights

Entities 23

person Alan Beller
person alan patricof
person bill loving
company chairman and chief executive officer, american stock exchange llc
company chief executive officer and president, georgia bank financial corporation
company chief executive officer, investrend communications, inc.
company chief executive officer, pink sheets llc
company co-founder, apax partners
company co-founder, president, and chairman, taglich brothers, inc.
agency director of sec division of corporation finance
person edward s. knight
company executive vice president and general counsel, the nasdaq stock market, inc.
person gayle essary
person herb wander
person jim thyen
person michael taglich
company national director of assurance and chairman of board, bdo seidman, llp
person neal l. wolkoff
person r. cromwell coulson
person r. daniel blanton
agency sec advisory committee on smaller public companies
agency Securities and Exchange Commission
person william j. carney

Triples 18

SEC Advisory Committee On Smaller Public Companies published agenda and witness panels for New York meeting
SEC Advisory Committee On Smaller Public Companies scheduled meeting Columbia University Law School, June 16-17, 2005
SEC established Advisory Committee On Smaller Public Companies under leadership of Chairman William H. Donaldson
Advisory Committee On Smaller Public Companies will develop recommendations and issue final report by April 2006
Advisory Committee On Smaller Public Companies voted to solicit public comment on proposed committee agenda on April 12, 2005
Alan Beller is Director of SEC Division of Corporation Finance
Edward S. Knight is Executive Vice President and General Counsel, The Nasdaq Stock Market, Inc.
Neal L. Wolkoff is Chairman and Chief Executive Officer, American Stock Exchange LLC
Alan Patricof is Co-Founder, Apax Partners
Wayne A. Kolins is National Director of Assurance and Chairman of Board, BDO Seidman, LLP
Bill Loving is Chief Executive Officer and Executive Vice President, Pendleton County Bank, Franklin, West Virginia
R. Daniel Blanton is Chief Executive Officer and President, Georgia Bank Financial Corporation
William J. Carney is Charles Howard Candler Professor of Law, School of Law, Emory University
R. Cromwell Coulson is Chief Executive Officer, Pink Sheets LLC
Michael Taglich is Co-Founder, President, and Chairman, Taglich Brothers, Inc.
Gayle Essary is Chief Executive Officer, Investrend Communications, Inc.
Jim Thyen is Co-Chair of Advisory Committee On Smaller Public Companies
Herb Wander is Co-Chair of Advisory Committee On Smaller Public Companies

View original SEC press releasesec.gov

Extracted body text (4,190c)

SEC ADVISORY COMMITTEE ON SMALLER COMPANIES PUBLISHES AGENDA, NAMES WITNESS PANELS, FOR NEW YORK MEETING FOR IMMEDIATE RELEASE 2005-90 Washington, D.C., June 14, 2005 - The Securities and Exchange Commission's Advisory Committee on Smaller Public Companies has published its agenda and identified the witnesses it plans to hear from at its meeting at Columbia University Law School in New York City on June 16 and 17, 2005. The witnesses include officials from Nasdaq and the American Stock Exchange, experts on research analyst coverage of small cap companies and a variety of other persons knowledgeable about securities regulation of smaller public companies. The Advisory Committee was established by the SEC under the leadership of Chairman William H. Donaldson to examine the impact of the Sarbanes-Oxley Act and other fed-eral securities laws on smaller public companies. The Committee will develop recommendations and issue a final report by April 2006. Previously, on April 12, 2005, the Committee voted to solicit public comment on a proposed committee agenda. The Committee will consider the comments submitted on the agenda and discuss other business on June 16, the first day of its two-day meeting in New York. On the second day of the meeting, June 17, the Committee will take testimony from witnesses. The testimony will focus on methods the Advisory Committee might recommend to scale securities regulations for smaller public companies. The Committee's goal is to assure that the costs and burdens of regulation are commensurate with the benefits to investors and the public. Alan Beller, Director of the SEC's Division of Corporation Finance, which is providing staff support for the Advisory Committee, said, "An academic environment is well suited for the Advisory Committee to pursue its goal of seeking solutions to regulatory prob-lems faced by smaller public companies." The Advisory Committee meeting will be held in Room 103 of Columbia Law School's Jerome Greene Hall, 435 West 116th Street, New York, New York, from 1:00 to 5:30 p.m. on June 16 and from 9:00 a.m. to 12:30 p.m. on June 17. The meeting will be audio webcast on the Commission's website at www.sec.gov. The agenda for the meeting, including information on composition of the witness panels, follows. Thursday, June 16, 1:00 p.m. - Business Session Introductory Remarks Jim Thyen and Herb Wander, Co-Chairs Review of Comments Received on Committee Agenda Reports from Subcommittees: Capital Formation Accounting Standards Corporate Governance and Disclosure Internal Control Over Financial Reporting Discussion of Factual Input Hearings Questionnaires SEC Office of Economic Analysis SEC Office of Risk Assessment Reaffirm or Revise Committee Agenda Discussion of Timetable Next Steps Planning for August Meeting Adjournment Friday, June 17, 9:00 a.m. - Public Hearing First Panel (9:00--10:45 a.m.) Edward S. Knight, Executive Vice President and General Counsel, The Nasdaq Stock Market, Inc. Neal L. Wolkoff, Chairman and Chief Executive Officer, American Stock Exchange LLC Alan Patricof, Co-Founder, Apax Partners Wayne A. Kolins, National Director of Assurance and Chairman of the Board, BDO Seidman, LLP; Executive Committee Member, Center for Public Company Audit Firms, American Institute of Certified Pub-lic Accountants Bill Loving, Chief Executive Officer and Executive Vice President, Pendleton County Bank, Franklin, West Virginia (testifying on behalf of Independent Community Bankers of America) R. Daniel Blanton, Chief Executive Officer and President, Georgia Bank Financial Corporation (testifying on behalf of American Bankers As-sociation) Second Panel (11:00 a.m.--12:30 p.m.) William J. Carney, Charles Howard Candler Professor of Law, School of Law, Emory University R. Cromwell Coulson, Chief Executive Officer, Pink Sheets LLC Michael Taglich, Co-Founder, President, and Chairman, Taglich Brothers, Inc. Gayle Essary, Chief Executive Officer, Investrend Communications, Inc. David N. Feldman, Managing Partner, Feldman Weinstein LLP John P. O'Shea, President, Westminster Securities Corp. http://www.sec.gov/news/press/2005-90.htm Home | Previous Page Modified: 06/14/2005

OCR text (4,190c · plain-text · 99% conf)

SEC ADVISORY COMMITTEE ON SMALLER COMPANIES PUBLISHES AGENDA, NAMES WITNESS PANELS, FOR NEW YORK MEETING FOR IMMEDIATE RELEASE 2005-90 Washington, D.C., June 14, 2005 - The Securities and Exchange Commission's Advisory Committee on Smaller Public Companies has published its agenda and identified the witnesses it plans to hear from at its meeting at Columbia University Law School in New York City on June 16 and 17, 2005. The witnesses include officials from Nasdaq and the American Stock Exchange, experts on research analyst coverage of small cap companies and a variety of other persons knowledgeable about securities regulation of smaller public companies. The Advisory Committee was established by the SEC under the leadership of Chairman William H. Donaldson to examine the impact of the Sarbanes-Oxley Act and other fed-eral securities laws on smaller public companies. The Committee will develop recommendations and issue a final report by April 2006. Previously, on April 12, 2005, the Committee voted to solicit public comment on a proposed committee agenda. The Committee will consider the comments submitted on the agenda and discuss other business on June 16, the first day of its two-day meeting in New York. On the second day of the meeting, June 17, the Committee will take testimony from witnesses. The testimony will focus on methods the Advisory Committee might recommend to scale securities regulations for smaller public companies. The Committee's goal is to assure that the costs and burdens of regulation are commensurate with the benefits to investors and the public. Alan Beller, Director of the SEC's Division of Corporation Finance, which is providing staff support for the Advisory Committee, said, "An academic environment is well suited for the Advisory Committee to pursue its goal of seeking solutions to regulatory prob-lems faced by smaller public companies." The Advisory Committee meeting will be held in Room 103 of Columbia Law School's Jerome Greene Hall, 435 West 116th Street, New York, New York, from 1:00 to 5:30 p.m. on June 16 and from 9:00 a.m. to 12:30 p.m. on June 17. The meeting will be audio webcast on the Commission's website at www.sec.gov. The agenda for the meeting, including information on composition of the witness panels, follows. Thursday, June 16, 1:00 p.m. - Business Session Introductory Remarks Jim Thyen and Herb Wander, Co-Chairs Review of Comments Received on Committee Agenda Reports from Subcommittees: Capital Formation Accounting Standards Corporate Governance and Disclosure Internal Control Over Financial Reporting Discussion of Factual Input Hearings Questionnaires SEC Office of Economic Analysis SEC Office of Risk Assessment Reaffirm or Revise Committee Agenda Discussion of Timetable Next Steps Planning for August Meeting Adjournment Friday, June 17, 9:00 a.m. - Public Hearing First Panel (9:00--10:45 a.m.) Edward S. Knight, Executive Vice President and General Counsel, The Nasdaq Stock Market, Inc. Neal L. Wolkoff, Chairman and Chief Executive Officer, American Stock Exchange LLC Alan Patricof, Co-Founder, Apax Partners Wayne A. Kolins, National Director of Assurance and Chairman of the Board, BDO Seidman, LLP; Executive Committee Member, Center for Public Company Audit Firms, American Institute of Certified Pub-lic Accountants Bill Loving, Chief Executive Officer and Executive Vice President, Pendleton County Bank, Franklin, West Virginia (testifying on behalf of Independent Community Bankers of America) R. Daniel Blanton, Chief Executive Officer and President, Georgia Bank Financial Corporation (testifying on behalf of American Bankers As-sociation) Second Panel (11:00 a.m.--12:30 p.m.) William J. Carney, Charles Howard Candler Professor of Law, School of Law, Emory University R. Cromwell Coulson, Chief Executive Officer, Pink Sheets LLC Michael Taglich, Co-Founder, President, and Chairman, Taglich Brothers, Inc. Gayle Essary, Chief Executive Officer, Investrend Communications, Inc. David N. Feldman, Managing Partner, Feldman Weinstein LLP John P. O'Shea, President, Westminster Securities Corp. http://www.sec.gov/news/press/2005-90.htm Home | Previous Page Modified: 06/14/2005