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EPA & Corporate SEC Reg.S-K



9/5/2001 The EPA issues new SEC disclosure guidance:

An EPA study found that 74 percent of publicly-traded companies had failed
to adequately disclose the existence of environmental legal proceedings in
their 10-K registration requirements as mandated by the Securities and
Exchange Commission ("SEC"). A new guidance document advises regional
offices when they should inform targets of EPA enforcement actions that
enforcement proceedings may be a reportable legal proceeding.
http://www.pollutiononline.com/read/nl20010515/427844

I took this to mean 74% of publicly traded companies don't consider full
financial transparency of EPA environmental legal proceedings a matter for
their shareholders to be alerted to and are confident those financial
departures (and others) mandated under SEC Reg. S-K will be permitted by the
SEC.

That seems to be a door left opened by the SEC to encourage financial
departures and or misinformation from SEC filling regulations for other
areas of corporate operations as well.

Don't these financial environmental departures hinder EPA & state DEP P2
initiatives?

And have you seen WRI report on financial environmental departures by US
publicly traded pulp manufacturers?
http://www.wristore.com/pureprofit.html

Is there any EPA and or state DEP effort to have the SEC enforce corporate
filing of financial environmental legal proceedings as mandated under SEC
Reg.S-K?

Best Wishes,
Donald Sutherland

References:
http://www.law.uc.edu/CCL/regS-K/index.html

1.The Securities and Exchange Commission's Environmental
Disclosure Rules:
SEC Regulation S-K Item 101 Applicable to 10-K (Annual) and
10-Q (Quarterly)
Reports

*Item 101 General Description of Business Operations: 17 C.F.R. 229.101
"Appropriate disclosure also shall be made as to the material
effects that
compliance with Federal, State and local provisions which have
been enacted
or adopted regulating the discharge of materials into the
environment, or
otherwise relating tothe protection of the environment, may
have upon the
capital expenditures, earnings and comptetitive position of
the registrant
and its subsidiaries.  The registrant shall disclose any
material estimated
capital expenditures for environmental control facilities for
the remaninder
of its current fiscal year and its succeeding fiscal year and for such
further periods ans the registrant may deem material."

*Item 303 Management Discussinon and Analysis 17 C.F.R. 229.303
The Management Discussion and Analysis (MD & A) is a narrative
analysis of
financial statements and conditions which may include
foreseeable material
environmental liabilities.  The duty to include MD& A exists
"where a trend,
demand, commitment, event or uncertainty is both presently known to
management and reasonably likely to have material effects on the
registrants's financial condition or results of operation."

*Item 303 Legal Proceeding 17 C.F.R. 229.103
Instruction 5 to Item 103 requires disclosure of environmental
proceeding
when such proceeding: (1) are material to the business or financial
condition of the registrant; (2) involve primarily a claim for
damages that
exceeds ten percent of the current assets of the registrant and its
susidiaries on a consolidated basis; or (3) involve a
governmental authority
as a party and such proceedings result in monetary sanctions,
unless the
registratnt reasonably believes that the proceeding will result in no
monetary sanctions, or in monetary sanctions, exclusive of interest and
costs, of less than $100,000.

2.Here is a quick review of how to access US publicly traded companies
traded
on the US stock exchanges US Securities and Exchange Commission mandated
filing of "significant
environmental material expenses" to shareholders on SEC 10-Q and SEC 10-K
forms using Generally Accepted Accounting Principals (GAAP) draw up by the
Financial Accounting Standards Board (FASB) (http://www.fasb.org ) and
enforced under SEC Regulation S-K.
See: http://www.sec.gov
enter: Search EDGAR archieves
enter: Quick Forms Look Up
select: 10-K and or 10-Q from Customize Form Selection
enter: company name
Scroll corporate SEC 10-K form for environmental depreciation, liability,
infrastructure, and other costs.