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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)
01/17/201708:30:00CIT Appoints Paul Tufaro As Executive Vice President And Chief...
01/05/201708:30:00CIT Serves As Co-Arranger For $65 Million Acquisition Financing...
01/04/201708:30:00Canyon Partners Real Estate Launches Canyon Multifamily Impact...
12/23/201617:05:44Current Report Filing (8-k)
12/22/201607:14:37Current Report Filing (8-k)
12/22/201606:30:00CIT Announces Early Tender Results For Its Offer To Exchange...
12/16/201615:55:29Statement of Changes in Beneficial Ownership (4)
12/16/201615:54:33Initial Statement of Beneficial Ownership (3)
12/15/201616:40:53Initial Statement of Beneficial Ownership (3)
12/14/201608:30:00CIT Serves as Sole Lead Arranger for $78.85 Million Financing...
12/13/201608:30:00CIT Names Gina Proia Executive Vice President and Chief Marketing...
12/08/201607:10:52Current Report Filing (8-k)
12/08/201606:30:00CIT Announces Exchange Offer for Its 5.000% Senior Unsecured...
12/07/201606:35:35Current Report Filing (8-k)
12/02/201616:54:06Current Report Filing (8-k)
12/02/201610:10:00Mnuchin Leaves CIT Board
12/02/201608:30:00CIT Announces Resignation of Steven T. Mnuchin from Board of...
12/01/201617:08:18Statement of Changes in Beneficial Ownership (4)
12/01/201608:20:00Mnuchin Made Millions From Financial Crisis
12/01/201602:30:00Trump's Treasury Choice Says 'No Absolute Tax Cut' for the Wealthy

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