A respected presence in the New York City entrepreneurial sphere, Mark Hirschhorn possesses significant experience in digital commerce development. In early 2020, he accepted the positions of president and chief operating officer of Talkspace, an online mental health therapy platform that connects customers and therapists via text and video chat sessions. As COO, Mark Hirschhorn oversees the implementation of operational and financial controls, as well as risk management and SEC reporting.
SEC laws compel publicly traded firms to report specific forms of financial and commercial data to their shareholders and the SEC on a regular basis. The SEC also mandates the disclosure of important business and financial information to potential investors, with exceptions provided for minor issues and private placements. The integrated disclosure system is the SEC’s system of mandatory corporate disclosure in 2021. By standardizing several forms and removing certain discrepancies in reporting obligations to the SEC and to shareholders, the SEC has worked to make this system less cumbersome for firms.
Companies that are publicly traded must provide two annual reports: one for the Securities and Exchange Commission, and one for their stockholders. The annual report to the SEC is known as Form 10-K, and its content and format are determined by federal statutes. It includes thorough financial and operational data, as well as a response from management to specific questions concerning the company’s operations.
Companies have traditionally had considerable discretion in deciding what to include in their annual reports to investors. However, the SEC has acquired more control over the substance of such annual reports over time, largely by modifying its proxy statement regulations. Most corporations must ensure their annual shareholder reports adhere to SEC rules, since they are mailed with their proxy statements to shareholders.
Mark Hirschhorn 