With new elements of business constantly emerging, controversy arises over what are considered material risks when it comes to financial reporting. The public is beginning to demand that companies disclose liabilities regarding cyber threats and even climate change. Normally these topics are avoided in reports, as they are highly subjective and can sway opinions easily. But this is the first proxy season that shareholders are asking for detailed disclosure on the topics.
The Securities and Exchange Commission has released news of its temporary suspension of trading in the securities of America’s Energy Company – AECo. The decision was based off a lack of filing of periodic reports set forth in the Securities Exchange Act of 1934. Brokers, dealers and shareholders are advised to beware that the AECo may give no quotes until they have provided the commission with the reports they have requested. To read more about this topic and who to contact with questions click here, and to see a list of other companies which have also been suspended- click here.
Tags: audit, Securities and Exchange Commission, trading, brokers, shareholders, stock market, Securities Exchange Act, fraud, SEC, federal investigation, audit deficiency, stock, AECo, American's Energy Company