Disclosure

Many Struggling With Risk Disclosures

April 03, 2012

Two years after the Securities and Exchange Commission enacted new proxy disclosure rules requiring companies to reveal more about how their boards oversee risk, many companies are still struggling with how to communicate aspects of their risk-management programs effectively. According to a recent study, disclosures are too basic and lack details on the company's approach to risk.
 

New Tax Man Tactics in United Kingdom

April 03, 2012

The United Kingdom begins another fiscal year this week with the country short on cash, meaning yet another year of the Crown stepping up collection of corporate taxes to help close the gap. This year, however, the government will employ a new tool to force companies to disclose possible tax evasion more quickly if they want to stay on the government's good side. Full details inside.
 

Companies Laboring to Make Sense of New Fair-Value Rules

March 20, 2012

With the first-quarter close approaching, companies and their auditors are still trying to determine how they will comply with a new rule that adjusts the method for measuring fair value and requires new disclosures. "Companies are still ... trying to figure out what this really means and what it is going to look like," says Manish Choudhary, a principal at Deloitte. Details inside.
 

Fresh SEC Guidance for Small Filers

February 28, 2012

Take heart, all you overworked, overwhelmed non-accelerated filers! The SEC has published its latest batch of guidance for small public companies, a 54-slide summary of filing errors and issues common to non-accelerated filers. From musings about the MD&A to questions about controls, and extra tips on how to ask the SEC for help, it's all in there.
 

Companies Prepare for 'Sunshine Provisions' of Health Reform

February 07, 2012

The government finally released a proposed rule on what's commonly referred to as the "sunshine provision" of the Patient Protection and Affordable Care Act. Now drug and medical companies are pushing for changes and clarifications, even as they prepare their compliance programs. "I think at the end of the day, it will remain a cumbersome task for the industry," says Eric Seigel, chief compliance officer at drug developer Incyte Corp.
 

Third-Party Corruption Risk: What You Should Know

January 31, 2012

Want to know one of the surest ways to strengthen your organization's anti-corruption capabilities? Start by discovering what you do not understand about the third parties that help you do business abroad. In the latest installment of our GRC Illustrated series, we offer some insights on how to get started on assessing third-party corruption risk.
 

More Companies Disclosing Their Political Spending Practices

November 15, 2011

According to a recent study on political spending disclosure practices—the first since the controversial Citizens United Supreme Court case—more than half of the S&P 100 disclose aspects of their political giving habits. Of those, 24 companies, including Colgate-Palmolive and IBM, prohibit any kind of political spending completely. More results inside.
 

Britain Warns Europe Not to Ditch Governance Principle

July 22, 2011

Britain's corporate regulator has warned the European Commission not to undermine the "comply or explain" principle as it develops a new cross-Europe approach to corporate governance.
 

Can Too Much Disclosure Be a Bad Thing?

July 12, 2011

It is often said that too much of anything is a bad idea. Now two academics have tried to determine whether the same applies to corporate disclosure, and their answer is a cautious yes: Too much disclosure, they say, can skew executive compensation upward and warp executives' decisions about strategic business investments. More inside.
 

Australia Should Hold Fire on Exec Pay Laws

May 26, 2011

The Australian government should not introduce new laws on executive pay levels or disclosure, and should think about scrapping some of the complex regulations that exist already, according to a report from its legal advisor.
 

SEC Proposes to Preserve Status Quo

March 17, 2011

The SEC proposed a rule today to preserve beneficial ownership requirements already in place—and dodge a Dodd-Frank Act mandate to change them.
 

Compliance Fatigue Causes Bad Shareholder Reporting

October 01, 2010

Suffering from “compliance fatigue,” U.K. corporate executives are producing shareholder reports that keep regulators happy but risk undermining shareholder trust in their abilities, according to a report from accountants at PwC.The problem was caused by “successive waves of ad hoc legislation, regulation, and governance requirements,” said David Phillips, head of...
 

Compliance Silence Costs Goldman Sachs £17.5m ($27m)

September 10, 2010

The U.K. Financial Services Authority has fined the London arm of investment bank Goldman Sachs £17.5 million ($27 million) for a breach of its rules. The penalty stems from a lack of communication between the firm’s U.S. operations and its London compliance department.The regulator penalized Goldman Sachs International (GSI) because...
 

Early Reviews on 2010 Proxy Disclosures

June 08, 2010

For any company wondering what grade it may have received for the proxy disclosures it made this spring, listen up.
 

Google Move Steps Up Interest in Web Disclosure

May 04, 2010

Leave it to Google to keep pushing the boundaries of what can be done online.
 

Accounts Watchdog Reveals Priority Sectors

December 11, 2009

0 false 18 pt 18 pt 0 0 false false false The U.K. watchdog that scrutinizes company reports for suspect accounting practices says it will focus its firepower on businesses in the commercial property, advertising, media, recruitment, and technology sectors next year. The Financial Reporting Review Panel says it will...
 

Canada Stops Governance Reforms

November 16, 2009

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Financial Instruments Disclosure Poor in Europe

November 16, 2009

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FSA Clears Way for Greater Investor Scrutiny

August 19, 2009

UK regulator the Financial Services Authority has published guidance aimed at making it easier for shareholders to push companies to raise their governance standards.Institutional shareholders have been accused of not challenging companies about their corporate governance practices in the run up to the financial crisis. But they in turn have...
 

Regulator Fires Bonus Warning

August 04, 2009

The Financial Services Authority has fired a warning shot at banks thinking of paying their executives guaranteed bonuses that run for more than a year.In a letter sent to more than 40 chief executives in the financial services sector, the head of the U.K. regulator, Hector Sants, cautioned that the...
 

Disclosures: Compliance Week Databases & Spreadsheets

August 02, 2009

A list of databases available to subscribers of Compliance Week.
 

Australian Corporate Governance Getting Worse

July 27, 2009

Corporate governance standards at Australian companies are getting worse, with a high percentage showing “significant deficiencies” in their boardroom practices, according to a report from accountants WHK Horwath. Less than 16 percent of the country’s 250 largest companies are achieving best practice standards, the firm says.Among the country’s largest listed...
 

IOSCO Sets Disclosure Principles

July 03, 2009

The International Organization of Securities Commissions (IOSCO) has weighed in on the global debate about making financial reporting more relevant by publishing a set of high-level guidelines on corporate disclosure.Its principles—aimed at national regulators thinking of reviewing their disclosure regimes—cover the kind of information that companies should release in their...
 

EU Members Sued for Lack of Audit Reform

June 26, 2009

The European Commission has started legal action against four of its member states for failing to implement a directive aimed at bolstering the quality of auditing and accounting in the trading bloc.The four countries in the firing line are Austria, Ireland, Italy, and Spain. The Commission said in a statement...
 

“Urgent Change” Needed to Fix Reporting

June 04, 2009

Corporate reporting is too complex and needs “urgent change,” according to a discussion paper from U.K. regulator the Financial Reporting Council (FRC).The International Accounting Standards Board should overhaul its standards so each one has an easy-to-follow structure with a clear statement of what it is supposed to achieve, the FRC...
 

European Commission Gets Tougher on Executive Pay

April 30, 2009

The European Commission has unveiled a tougher approach to executive pay and said it will issue draft laws that will allow regulators to intervene in financial sector pay awards.The Commission’s last guidance on executive remuneration, issued in 2004, was widely ignored, but Internal Market Commissioner Charlie McCreevy insisted these two...
 

Investors Target Governance at Belgian Bank

April 24, 2009

A group of public sector U.K. pension funds has called for a shareholder rebellion over poor governance practices at Belgian banking and life assurance group KBC. The move is part of the Local Authority Pension Fund Forum’s plan to take a tougher stance on governance issues at international companies.The forum,...
 

Belgium Revamps Governance Code

April 13, 2009

Belgian listed companies will have to publish a remuneration policy and detailed information about how much executive directors earn, under a revised version of the country’s corporate governance code.Companies will have to reveal the amount of pay and benefits that executive directors receive, with a breakdown showing the split between...
 

Euro Governance Forum Wants Better Pay Disclosure

March 25, 2009

A new executive pay code published by a European Commission advisory body would require companies to disclose more information about directors’ pay. The move follows a growing row about levels of pay and “rewards for failure” across Europe.The European Corporate Governance Forum, which published the code, wants legislation to force...
 

U.K. Regulator to Investors: Ask Tougher Governance Qs

March 11, 2009

Institutional investors must do more to hold companies to account and question them about their corporate governance practices, according to the chief executive of the U.K.’s Financial Services Authority, Hector Sants.Speaking at the U.K National Association of Pension Funds’ investment conference, Sants said shareholders must take responsibility—acting on their own...
 

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Survey of the Week


Deloitte is conducting their annual Look Before You Leap: Managing Risks in Global Investments survey to better understand the approaches companies are taking to address compliance and integrity-related risks in emerging markets. 

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