2005 Update for Annual and Quarterly Reports and Proxy Statement Disclosure

Originally published January 6, 2005

This Securities Update summarizes the changes in disclosure requirements over the past year—many of which have only recently become effective—that companies must comply with in preparing their annual and quarterly reports and annual meeting proxy statements in 2006. This Update is intended to serve as a checklist of items to be considered or complied with rather than a complete description of the items listed. We have included references to the relevant SEC adopting releases, as well as to prior MBR&M Securities Updates that we have circulated to our clients and friends on these subjects. If you receive this Update electronically, you may also simply click on the embedded links to go directly to the cited material.