February 27, 2024
SEC corporate finance chief provides details on rationale behind ‘materiality’ as incident reporting rule goes into effect
The Securities and Exchange Commission’s approach to define “materiality” and provide a four-day window for incident reporting is in line with other agency rules, according to corporate finance chief Erik Gerding, who recently provided an overview of the controversial rulemaking to stakeholders.
Gerding said “Materiality is a touchstone of [federal] securities laws. It connects disclosures back to the needs of investors. I don’t mean to suggest that all disclosures required under the Federal securities laws have or must have a...