Above Board

Many companies are in the midst of preparing their year-end Annual Reports on Form 10-K and looking ahead to their annual meeting of shareholders. In addition to changes to rules, regulations and disclosure trends, the current season adds an additional layer of complexity and uncertainty due to the new Presidential administration and the numerous executive orders that have been issued to date by President Trump.

The establishment by the Securities and Exchange Commission (SEC) of a Crypto Task Force and the issuance by President Trump of an executive order entitled “Strengthening American Leadership in Digital Financial Technology” (the “Executive Order”) are two of the first statements from the Trump administration regarding the regulation of digital assets in the United States.

The SEC continues to leave its mark as a federal cybersecurity enforcer and closed out the year by charging another company with making misleading statements about a cybersecurity attack and failing to maintain cyber-related disclosure controls and procedures.