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ARTICLE · 11 JUNE 2025

Could The SEC's Enforcement Spotlight Return To Executive Perks?

Jones Day
Jones Day
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Jones Day

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Executive perk disclosures are a perennial SEC enforcement subject, typically generating two or three cases each year. These disclosures present unique risks, given the SEC's expansive...

United StatesCorporate/Commercial Law
Henry Klehm III
Henry Klehm III
Sarah L. Levine
Sarah L. Levine
Sidney Smith McClung
Sidney Smith McClung
David Peavler
David Peavler
Brian C. Rabbitt
Brian C. Rabbitt
Evan Singer
Evan Singer
John Tang
John Tang
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The Securities and Exchange Commission ("SEC") is hosting a roundtable discussion on disclosures just weeks after reports of significant increases in executive perks.

Executive perk disclosures are a perennial SEC enforcement subject, typically generating two or three cases each year. These disclosures present unique risks, given the SEC's expansive view of what constitutes a "perk," the low-dollar thresholds for disclosures, and the absence of any scienter requirement for violations. And as we've noted before [SEC Scrutiny of Executive Perks Brings Pitfalls for Companies], travel-related perks are by far the most common targets of SEC enforcement, appearing in nearly every perks-related case the agency has filed in the last 10 years.

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