The article serves as a guide to best practices when responding to a probe by the Securities and Exchange Commission. It discusses the steps “that both in-house and outside counsel should take each time they are faced with an SEC investigation in order to best position a company for credit.” They include:
- identifying the issue and triage
- responding to requests and subpoenas
- engaging with the SEC staff
- taking action
The authors conclude by noting that, while no two SEC investigations are the same, “It is imperative for counsel to remember, as an investigation unfolds, that regardless of the facts or details of a particular investigation, maintaining an open, professional and respectful line of communication with the SEC staff is key.”
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