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SEC Focusing On Offshore Cash Disclosure: Sources - FT

DOW JONES NEWSWIRES The U.S. Securities and Exchange Commission is focusing on the issue of overseas cash after new disclosures at Microsoft Corp. (MSFT) and Google Inc. (GOOG) earlier this year raised interest in the matter, the Financial Times reported Monday on its website, citing unnamed sources. The SEC has asked companies--including Dow Chemical Co. (DOW), Fortune Brands Inc. (FO), Caterpillar Inc. (CAT) and CIT Group Inc. (CIT)--to increase the information they give investors about their overseas earnings and cash, the report said, without directly citing a source. There is currently no fixed rule for companies to disclose details of how much they hold overseas, but the SEC's move comes amid concerns that a tax on income generated overseas and brought home might potentially lead companies to favor overseas investments, the report said. Full Story:

Stock News for Cit Group (CIT)
08/26/201508:30:00CIT and TPG Special Situations Partners Enter into Strategic...
08/20/201508:30:00CIT Provides $61 Million in Financing to Advantage Tankers
08/17/201508:30:00CIT Serves as Joint Lead Arranger in $135 Million Senior Secured...
08/14/201516:02:53Small Company Offering and Sale of Securities Without Registration...
08/13/201508:30:00CIT Provides $32 Million in Financing to Norstar Tankers
08/10/201508:30:00CIT Serves as Joint Lead Arranger in $165.5 Million Financing...
08/05/201517:34:40Quarterly Report (10-q)
08/05/201516:02:43Statement of Changes in Beneficial Ownership (4)
08/05/201516:01:49Initial Statement of Beneficial Ownership (3)
08/05/201516:01:21Statement of Changes in Beneficial Ownership (4)
08/05/201516:00:29Initial Statement of Beneficial Ownership (3)
08/05/201515:59:34Statement of Changes in Beneficial Ownership (4)
08/05/201515:59:06Initial Statement of Beneficial Ownership (3)
08/05/201515:58:07Statement of Changes in Beneficial Ownership (4)
08/05/201508:30:00CIT Provides Acquisition Financing to Altamont Capital Partners...
08/03/201509:06:59Current Report Filing (8-k)
08/03/201508:30:00CIT Completes Acquisition of OneWest Bank
07/31/201512:46:22Statement of Changes in Beneficial Ownership (4)
07/28/201510:20:09CIT Group Profit Slides on Revenue Decline
07/28/201506:49:43Current Report Filing (8-k)

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