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SEC

Ponzi Scheme Tied to Driver Alert Tech Firm

The Securities and Exchange Commission alleges that a Houston-area businessman deceived clients into investing in a financially troubled company specializing in safety tech aimed at preventing drowsy driving.

South African-based MiX Telematics Files for U.S. IPO

MiX Telematics, which provides fleet and mobile management SaaS solutions, recently filed paperwork with the U.S. Securities and Exchange Commission (SEC) to raise up to $125 million in an initial public offering.

SEC Inching Closer to Mandated Carbon Disclosure

A growing number of investors, state officials, and environmental groups are lobbying the U.S. Congress to mandate climate change disclosures in Securities and Exchange Commission (SEC) filings. A recent SEC interpretive release caught the attention of the corporate fleet community, especially in the wake of a record number of global warming resolutions filed with 58 U.S. companies during the 2009 proxy season. Will fleet managers have to deal with carbon disclosure in the not-too-distant future

SEC Proposal to Allow Early Adoption of International Accounting Standards

On Aug. 27, the Securities and Exchange Commission raised the possibility that approximately 110 U.S. publicly traded companies will be able to use international accounting standards (IAS) next year and may require all U.S. companies to switch to IAS between 2014-2016. There is a 60-day comment period about the SEC proposal. Fleet leasing will be impacted by the adoption of IAS. It is probable that all fleet leases in the U.S. will need to be capitalized sometime in the 2011-2016 timeframe.