SEC Veteran Returns to Run Corporation Finance

Meredith Cross, an SEC staffer through the 1990s, has been selected by Chairman Mary Schapiro to return and run the all-important Division of Corporation Finance. “Corp Fin,” as it is known, oversees every public company’s disclosure.

It took a little longer than expected for this spot to be filled. Ms. Cross has a strong background, having been a lawyer in Corp Fin’s chief counsel’s office, and worked her way up to Chief Counsel. She also worked in the Office of Small Business, which bodes well for those of us focusing on that area. Sometimes we find that the backgrounds of Corp Fin directors did not provide them with sufficient ability to truly understand the unique needs of smaller public companies.

Now that this important role has been filled, we hope the Division can begin to turn its attention to matters that have been on the table for awhile, including our request for the SEC to consider reversing the ill-advised “evergreen” requirement limiting shareholders of former shells in their ability to sell shares under Rule 144 without registration.

Best of luck Ms. Cross.

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