SEC to Disclose More Letters to Companies
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The Securities and Exchange Commission said it would begin disclosing its correspondence with companies whose regulatory filings need to be “improved or enhanced.”
Letters from the SEC asking companies to improve financial statements have been available only through the Freedom of Information Act. Companies such as Global Securities Information Inc. and SEC Insight Inc. have obtained such correspondence through the FOIA and sold it to subscribers.
The reports won’t be released until at least 45 days after the review is complete, the SEC said.
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