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Program Will Provide “Combined Data Sets” for Use by Investors and Analysts In December, the SEC announced the unveiling of a program that will allow investors and analysts to have an easier time analyzing financial statements using XBRL. The data that public companies provide via XBRL will be pooled into structured data sets for external
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On the second day of the year, U.S. House of Representatives failed to pass HR 37, “Promoting Job Creation and Reducing Small Business Burdens Act”. HR 37 would have exempted small public companies with under $250 million in annual revenue from filing in XBRL. The focus of the bill was to mitigate the costs public
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The SEC believes that the crowdfunding regulations (Section 4(a)(6) of the Securities Exchange Act) would make it easier for small businesses to raise capital, who wouldn’t be able to otherwise, due to having smaller and more variable cash flows than larger businesses and a limited amount of working capital to obtain traditional bank loans. Accordingly,
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Save Time and Money This Press Release Season with Colonial Stock Transfer! Are you weary of paying overage fees and would rather have a flat rate? Would you like to reduce the costs of nationwide coverage? Do you want to increase traffic to your website? By making Colonial Stock Transfer your press release and newswire
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Colonial recently performed a side by side analysis of XBRL in 10-Q and 10-K filings submitted by our competitors. The analysis presents two examples where incorrect tags were placed and the potential remedies. Each example included different inconsistencies at different locations within the financial statements. As shown in the analysis, there could be many tags
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Follow the corporation’s explicit stock transfer processes Refer to the corporation’s bylaws or buy-sell agreement between the shareholders and the transfer of shareholder ownership. Many well-run S corporations limit stock transfers to preserve a corporation’s sub-chapter from any revocation via the accidental stock transfer to ineligible parties. An S corporation might require third party approval
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The Securities and Exchanges Commission (“SEC) has agreed to draft rules under the Jumpstart Our Business Startups (JOBS) Act to allow companies to offer and sell securities through crowdfunding. SEC Chair Mary Jo White stated that the intent of the JOBS Act is to make it easier for start-up companies and small business to obtain
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DTCC (“DTC”) released a press release on March 12, 2013 regarding the proposed steps to continue with the dematerialization of physical securities in the United States. The proposals specifically relate to physical certificate elimination, which will help to lower costs and mitigate risk for the individual shareholder and the issuer. In the press release, DTC
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The Securities Transfer Association (STA) has commented on the broker fee increase proposal submitted by the NYSE PFAC committee and has disagreed on several points. With an 18-month effort by NYSE PFAC to review and update the broker proxy fee schedule, the STA has recommended that the fee proposal should be disapproved for several reasons:
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The NYSE proposes a beneficial holder proxy fee increase to be charged to issuers by brokers (Broadridge). These proposals result in several fee increases that affect both large and small issuers. Here are some of the notable changes and increases: Intermediary Unit Fees – There was a 28% increase for issuers with under 10,000 accounts.
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On October 13, 1987, Colonial Stock Transfer began what continues to be an amazing journey since the company signed its first client to transfer agent services. As we mark the 25th anniversary of those first stock transfers, we wanted to express our appreciation and our gratitude to all of our employees, friends, and clients. Thanks
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Regular shareholder meetings are an important part of investing in a company. Based on the company’s performance, investors can gauge how much to invest in the future. If shareholders are unable to attend the meeting, they should educate themselves properly by reading the proxy statement before voting on proposals. A stock transfer agent can guide
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Currently, thousands of companies or their consultants are dealing with the burden of filing financials in XBRL (eXtensible Business Reporting Language) formats. We have several tips gathered from industry experts, including SEC staff to help you better prepare your financials and produce more accurate and better quality filings. 1. Prepare your financials properly. A large
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As large and small reporting companies get ready for their annual meetings this year, they should keep in mind the new rules involving shareholder approval on executive compensation. These rules, required under the Dodd-Frank Wall Street Reform and Consumer Protection Act, will need to be included on all proxy cards after Jan. 21, 2011. The
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As large and small reporting companies get ready for their annual meetings this year they should keep in mind the new rules involving shareholder approval on executive compensation. These rules, required under the Dodd-Frank Wall Street Reform and Consumer Protection Act, will need to be included on all proxy cards after Jan. 21, 2011. The
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The Financial Industry Regulatory Authority, or FINRA, made key changes in the way corporate actions are handled this past year, including eliminating time-consuming paperwork and adding issuer fees for corporate action processing. As far as paper elimination is concerned, FINRA has created interactive PDF documents for both issuers and transfer agents involved in the corporate
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In a new rule effective January 1, 2010, the SEC has eliminated discretionary voting on directors by brokers. In the past, this rule allowed brokers to vote proxies on behalf of beneficial shareholders for uncontested directors for publicly held companies, as long as the beneficial shareholder had received the proxy materials with plenty of time
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Shareholders, by virtue of their ownership interest in a corporation, are usually entitled to one vote per share in corporate elections or certain other policy decisions. This is true for the approval or disapproval of pension plans, additional stock authorizations, and mergers. If the shareholders can attend the annual meeting or special meetings called from
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