• SEC Adopts Rules For Accelerated Filing Deadlines
  • December 19, 2003 | Author: Martin F. Doublesin
  • Law Firm: Fulbright & Jaworski L.L.P. - Houston Office
  • Section 409 of the Sarbanes-Oxley Act of 2002 requires issuers with reporting obligations under the Securities Exchange Act of 1934 to "disclose to the public on a rapid and current basis such additional information concerning material changes in the financial condition or operations of the issuer, in plain English, which may include trend and qualitative information and graphic presentations, as the Commission determines, by rule, is necessary or useful for the protection of investors and in the public interest." This broad pronouncement shows a desire on the part of the drafters of Sarbanes-Oxley to provide for faster disclosure to the markets of information concerning an issuer that affects its securities.