Morgan Lewis

Linda L. Griggs

Senior Counsel

Linda L. Griggs’s practice focuses on securities regulation and corporate law matters. In addition, she assists on internal investigations and SEC enforcement and litigation matters that involve financial reporting and accounting matters. She draws on her experience as a former chief counsel to the chief accountant of the US Securities and Exchange Commission (SEC) to advise clients on issues related to financial reporting, accounting, and other disclosure requirements under securities laws and public and private securities offerings. Linda also advises clients on the fiduciary duties of directors and officers, as well as corporate governance matters.

Extended Profile

Linda’s three-year term on the Financial Accounting Standards Advisory Council (FASAC) ended on December 31, 2016.  FASAC advises the Financial Accounting Standards Board on strategic issues, project priorities, and other matters that affect accounting standards. Previously, she served on the SEC's Advisory Committee on Improvements to Financial Reporting and as a chair of the American Bar Association's Law and Accounting Committee.

In addition to her role as chief counsel to the chief accountant of the SEC, Linda worked as special counsel in the Division of Corporation Finance at the SEC. Prior to that, she served as an attorney in the division's rule-writing office, and as a reviewer of registration statements, proxy statements, and reports filed by companies covered by federal securities laws.

Linda retired as a partner of Morgan Lewis as of September 30, 2016 and practices as a senior counsel of the firm.

Education

  • Smith College, 1971, B.A.
  • University of Cincinnati College of Law, 1974, J.D.

Admissions

  • District of Columbia

Awards and Affiliations

Ranked, Securities: Regulation: Advisory, Nationwide, Chambers USA (2013–2018)

Recommended, Capital Markets: Debt Offerings, Equity Offerings, The Legal 500 US (2014–2016)

Top Woman Lawyer, Best Lawyers (2016–2017)

Recognized, Corporate Compliance Law, Washington, DC; Corporate Governance Law, Washington, DC; Securities/Capital Markets Law, Washington, DC; Securities Regulation, Washington, DC, The Best Lawyers in America (2016–2019)

Recognized, Who’s Who Legal (2018)

Member, Financial Accounting Standards Advisory Council (10/2013 to 12/2016)

Member, SEC Advisory Committee on Improvements to Financial Reporting (8/2007–8/2008)

Member, American Bar Association, Federal Regulation of Securities Committee and Law and Accounting Committee

Publications

11/13/2017 - Living With Leidos, Bloomberg Law Securities Regulation & Law Report

9/25/2017 - When Rules Collide – Leidos, the Supreme Court, and the Risk to the MD&A, BNA Securities Regulation & Law Report

July 2016 - Thanks For (Less Than) Nothing: Section 72001 of the FAST Act and the SEC’s interim Final Rule, INSIGHTS

5/18/2016 - New SEC Guidance on Non-GAAP Financial Measures Will Require Changes to Many Non-GAAP Presentations, Financial Reporting and the Law

5/12/2016 - PCAOB Reproposes Revisions to Auditor’s Report to Require Disclosure about Critical Audit Matters and Auditor Tenure, Financial Reporting and the Law

4/7/2016 - SEC Emphasizes Need for Documentation of Why Significant Deficiency is not a Material Weakness, Financial Reporting and the Law

2/25/2016 - Auditing Standard 18 Ramifications for Management’s Related Party Representations, Financial Reporting and the Law

1/29/2016 - A Matter of Opinion: Parsing the Independent Auditor's Report in the Context of Omnicare, BNA Tax and Accounting Center

July 2015 - New SEC and PCAOB Proposals Related to Audit Committee Disclosure and Audit Quality

7/10/2015 - New Proposals by the SEC and the PCAOB Increase the Focus on Audit Committees, Financial Reporting and the Law

6/29/2015 - Omnicare and GAAP-Based ‘Numerical Opinions’, BNA Securities Regulation & Law Report

5/28/2015 - PCAOB’s Reorganization of Auditing Standards Will Change References to Auditing Standards, Financial Reporting and the Law

4/2/2015 - FASB Defers the Revenue Recognition Standard’s Effective Date, Financial Reporting and the Law

4/1/2015 - FASB’s Amended Consolidation Standard Requires Reassessment of Certain Consolidation Decisions, Financial Reporting and the Law

2/19/2015 - FASB Eliminates Extraordinary Items Reporting, Financial Reporting and the Law

12/11/2014 - SEC Accounting Staff Speeches at Annual AICPA Conference, Financial Reporting and the Law

11/26/2014 - SEC Will No Longer Require an Acquired Entity to Use “Pushdown” Accounting upon a Change in Control, Financial Reporting and the Law

11/19/2014 - Disclosure Effectiveness: ABA Business Law Section Committees Suggest Financial Reporting Revisions, Financial Reporting and the Law

10/2/2014 - PCAOB’s Standard-Setting Agenda: No New Adoptions of Substantive Audit Standards, Financial Reporting and the Law

9/17/2014 - PCAOB Urges Audit Committee Scrutiny of Revenue Recognition, Financial Reporting and the Law

9/9/2014 - New Credit Rating Agency Rules Offer Insight into Public Company Internal Controls, Financial Reporting and the Law

9/3/2014 - FASB Defines Management’s Going Concern Assessment and Disclosure Responsibilities, Financial Reporting and the Law

8/18/2014 - District Court Confirms Caremark Applies to Audit Committee Oversight of Internal Controls, Financial Reporting and the Law

8/13/2014 - 10th Circuit Relies On Earnings Release and Compliance with Regulation S-K to Reject Claim of Material Omissions in Public Offering, Financial Reporting and the Law

8/5/2014 - Recent SEC Enforcement Action on Internal Control Despite No Other Alleged Violations, Financial Reporting and the Law

Summer 2014 - SEC Makes Clear that Cybersecurity is a Focus Area, State Bar of Texas Corporate Counsel Section Newsletter

7/30/2014 - Studies Provide Useful Data About Restatements Since 2003, Financial Reporting and the Law

7/22/2014 - PCAOB Focuses on Cybersecurity at Standing Advisory Group Meeting, Financial Reporting and the Law

7/15/2014 - FASB Works on Projects to Help Investors and Preparers, Financial Reporting and the Law

7/8/2014 - PCAOB Standard-Setting Agenda Offers Insight into Rulemaking Activities, Financial Reporting and the Law

6/30/2014 - SEC Chair White Discusses Directors’ Responsibilities, Financial Reporting and the Law

6/24/2014 - Pre-Filing Consultation of SEC Staff Regarding Venezuela Operations May Be Appropriate in Certain Circumstances, Financial Reporting and the Law

6/16/2014 - Public Company Boards and Management will be Affected by PCAOB’s New and Amended Auditing Standards Regarding Related Party Transactions, Significant Unusual Transactions and Financial Arrangements with Executive Officers, Financial Reporting and the Law

6/5/2014 - New Revenue Recognition Standard Will Likely Affect Most Companies and Require Pre-Adoption Planning, Financial Reporting and the Law

6/2/2014 - Enforcement Case Shows SEC’s Increased Focus on Internal Controls, Financial Reporting and the Law

5/23/2014 - SEC Chair Highlights Commission’s Accounting Priorities, Financial Reporting and the Law

5/16/2014 - Separate Financial Statements and the SEC’s Disclosure Effectiveness Project, Financial Reporting and the Law

5/16/2014 - Updated: No Stay of SEC’s Conflict Minerals Rules

5/9/2014 - New Changes to Engagement Letters Preclude Company Intervention in Portions of Audits Performed by Company Personnel, Financial Reporting and the Law

5/2/2014 - Increasing Focus on Expansion of Audit Committee’s Report, Financial Reporting and the Law

4/23/2014 - FASB to Eliminate Special Accounting Rules for Development Stage Entities, Financial Reporting and the Law

4/21/2014 - FASB Revised Guidance Will Decrease Discontinued Operations Treatment, Financial Reporting and the Law

4/18/2014 - Public Meeting Does Not Clarify Direction of PCAOB’s Proposal to Expand the Auditor’s Report, Financial Reporting and the Law

4/8/2014 - IIRC and GISR Agree to Memorandum of Understanding, Financial Reporting and the Law

4/4/2014 - SEC Commissioner Offers Views on SASB, Financial Reporting and the Law

4/1/2014 - FASB to Modify Going Concern Proposal, Financial Reporting and the Law

3/31/2014 - Update: Cybersecurity and Internal Control Over Financial Reporting, Financial Reporting and the Law

3/31/2014 - SEC Hosts Roundtable on Cybersecurity Issues and Challenges

3/28/2014 - PCAOB Board Member Addresses Audit Deficiencies Identified in Inspections, Financial Reporting and the Law

3/27/2014 - Audit Committee Member Charged with Fraud for Disregarding Red Flags, Financial Reporting and the Law

3/21/2014 - Proposed FASB Framework Could Result in Additional Future Disclosures on Loss Contingencies, Financial Reporting and the Law

3/17/2014 - Cybersecurity Breaches May Be the Result of Weaknesses in Internal Controls, Financial Reporting and the Law

3/14/2014 - Update: FASB Endorses Another Private Company Council Standard, Financial Reporting and the Law

3/11/2014 - Update: FASB Insurance Contracts Proposal Will Not Apply to Non-Insurance Companies, Financial Reporting and the Law

3/6/2014 - SEC Officials Discuss Audit Committees, Financial Reporting and the Law

2/27/2014 - SEC Adopts PCAOB Standards for Broker-Dealer Audits, Financial Reporting and the Law

2/24/2014 - FASB Insurance Contracts Proposal Would Apply to Non-Insurance Companies, Financial Reporting and the Law

2/20/2014 - Important Developments at the PCAOB, Financial Reporting and the Law

2/18/2014 - SEC May Renew Focus on IFRS, Financial Reporting and the Law

2/12/2014 - SEC Official Discusses Financial Reporting and Audit Task Force, Financial Reporting and the Law

2/12/2014 - MD&A Case Addresses Whether an Uncertainty Is “Known”, Financial Reporting and the Law

2/10/2014 - Update: District Court Denies Motion for Reconsideration in MD&A Case, Financial Reporting and the Law

2/7/2014 - Audit Committee Members’ Failure to Respond to Red Flags Establishes Scienter, Financial Reporting and the Law

2/5/2014 - Advances in Technology May Impact Segment Reporting, Financial Reporting and the Law

2/3/2014 - MD&A: Don’t Forget Material Trends and Uncertainties, Financial Reporting and the Law

1/31/2014 - Tax and Other Permissible Non-Audit Services May Affect Auditor Independence, Financial Reporting and the Law

1/29/2014 - SASB and IIRC Agree to Memorandum of Understanding, Financial Reporting and the Law

1/27/2014 - New Guidance Issued on Conflict Minerals Audits, Financial Reporting and the Law

1/24/2014 - Regulators Focus on Internal Control Over Financial Reporting, Financial Reporting and the Law

1/22/2014 - SEC Proposes New Financial Statement Requirements Under Regulation A+, Financial Reporting and the Law

1/21/2014 - Welcome to Financial Reporting and the Law!, Financial Reporting and the Law

1/17/2014 - FASB Endorsement of Private Company Accounting Principles May Adversely Affect Public Companies, Financial Reporting and the Law

1/16/2014 - SEC Staff’s Regulation S-K Study May Lead to Financial Reporting Requirements Reform, Financial Reporting and the Law

1/15/2014 - PCAOB Proposal to Require the Naming of the Engagement Partner and Certain Other Accounting Firms and Persons in Auditor’s Report Would Adversely Affect Capital Raising, Financial Reporting and the Law

1/13/2014 - EU Agreement on Auditor Rotation May Affect U.S. Companies, Financial Reporting and the Law

1/10/2014 - The Increased Focus on Audit Committees, Financial Reporting and the Law

1/8/2014 - SEC Proposes Dodd-Frank Conforming Amendments for Broker-Dealer Audits, Financial Reporting and the Law

1/6/2014 - Companies Should Participate in Expected PCAOB Public Meeting on Auditor’s Reporting Model, Financial Reporting and the Law

1/3/2014 - Court Ruling Offers Reminder on Forward-Looking Statements, Financial Reporting and the Law

1/2/2014 - SEC Plans for Approval of PCAOB’s Standards for Broker-Dealer Audits, Financial Reporting and the Law

9/24/2013 - SEC Proposes Rule on Required CEO Pay Ratio Disclosure

9/16/2013 - The SEC’s Renewed Interest in Accounting Cases — A New Beginning or a Victim of Fait?, BNA's Securities Regulation & Law Report

7/24/2013 - SEC Approves General Solicitation in Private Offerings and Proposes Further Regulation D Amendments

6/5/2013 - SEC Staff Issues FAQs on Conflict Minerals Reporting

4/17/2013 - SEC Issues Guidance on Social Media and Regulation FD

2/5/2013 - SEC Approves Final NYSE and NASDAQ Compensation Committee Rules

1/22/2013 - SEC Reporting for Certain 2012 Iran-Related Transactions

9/28/2012 - A Year Under SEC Bulletin No. 19

September 2012 - SEC Adopts Rules Implementing the Dodd-Frank Requirement for Conflict Minerals Reporting

April 2012 - Corporate Spending Post-Citizens United Decision Comes under Attack

3/30/2012 - Congress Passes the JOBS Act to Simplify Capital Formation

2/16/2011 - Say-on-Pay: Practical Proxy Advice

7/21/2010 - Financial Reform Bill Imposes New Corporate Governance Requirements

6/14/2010 - Proposed Corporate Governance Changes Applicable to Public Companies

March 2010 - SEC Interpretive Guidance Addresses Climate-Change Disclosure Requirements, The Environmental Counselor, Issue 259

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News

5/15/2017 - More than 35 Morgan Lewis Lawyers Named Top Women in the Law by Best Lawyers

5/3/2016 - 35 Morgan Lewis Lawyers Recognized by Best Lawyers in America as Top Women in the Law

1/21/2014 - Morgan Lewis Launches Financial Reporting and the Law Blog

8/27/2013 - Financial Accounting Foundation Appoints Linda L. Griggs to the Financial Accounting Standards Advisory Council

Events

12/1/2015 - What Companies Need to Know About the SEC's Financial Reporting Initiatives

6/23/2015 - Audit Committees and Financial Reporting 2015: Recent Developments and Current Issues

4/16/2015 - ABA 2015 Business Law Section Spring Meeting

8/11/2010 - Financial Reform Bill: Impact on Executive Compensation, Corporate Governance, and Disclosure

Risks and Temptations: Governance Game-Changers in 2010