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SEC Enforcement “Invites” Disclosure: Next Steps

By Randi Morrison posted 07-25-2021 06:51 PM

  
On the heels of the SEC’s offer of limited scope amnesty relating to the SolarWinds cyber attack, which included an invitation from SEC Enforcement to certain companies to voluntarily disclose information (we reported on here), BakerHostetler’s memo: “‘An Offer You Can't Refuse': Best Practices for Responding to SEC ‘Voluntary' Requests” explains the meaning and implications of a voluntary request for information or documents from the SEC and provides practical advice to companies on how to respond. Notably, a request to voluntarily provide information should prompt consideration of the potential implications of non-cooperation and should be deemed on par with a formal order as respects the duty to preserve information and documents.

                              This post first appeared in the weekly Society Alert!
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