Media Coverage
Source: IR Magazine
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Thomas
09.23.24
In an extensive Q&A with IR Magazine, Corporate Investigations & White Collar Defense partner David Oliwenstein suggested recommendations and expectations for investor relations professionals facing accounting- and financial reporting-related investigations by the Securities & Exchange Commission (SEC).
“If [an SEC] investigation focuses on disclosures to investors, members of the investor relations (IR) team may be important fact witnesses, especially if they were involved with drafting or disseminating disclosures,” Oliwenstein, who is also a former staffer at the SEC’s Enforcement Division, said.
Offering advice to IR professionals whose companies are regulated by the SEC, Oliwenstein noted: “The IR team should be sure to vet all disclosures through counsel. When dealing with questions regarding the SEC’s investigation, IR personnel must be mindful of the company’s obligations under Regulation Fair Disclosure (FD).”
When considering how best an IR team or member can support their company throughout this process, Oliwenstein said that “IR personnel can ensure their company is speaking with one voice…[to] minimize potential liability.”
In order to protect themselves, “IR persons must never knowingly disseminate a false statement to investors; must appropriately “vet [disclosures for accuracy] within the company; and be careful when speaking with analysts, particularly with respect to their obligations under Regulation FD,” he concluded.
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