Dodd Frank Act

As Regulators Tinker With New Rules for Derivatives, a Deadline Looms

June 14, 2011

Regulators now admit they will miss a July 16 deadline for adopting new rules for derivatives trading, but that won't stop some derivatives provisions of the Dodd-Frank Act from taking effect. As uncertainty lingers, regulators such as the Commodity Futures Trading Commission are reaching out to market participants for input while they attempt to complete the new rules.
 

Regulators Miss All Second Quarter Dodd-Frank Deadlines

May 17, 2011

Federal regulators—primarily the SEC—missed all 26 rulemaking requirements of the Dodd-Frank Act in the second quarter of 2011. As the backlog of rules waiting to be adopted grows, companies are forced to delay their plans for compliance. But some say waiting is better than the SEC rushing through rules that aren't well thought out. More inside.
 

Companies Fear Lawsuits, Higher Costs From Whistleblower Rules

April 26, 2011

As the SEC prepares to issue final rules on the whistleblower provisions of the Dodd-Frank Act, companies are raising concerns that the regulations will lead to more frivolous claims, more lawsuits, and higher compliance costs. Worse, companies say they will face fraud claims from unnamed sources that will be nearly impossible to investigate. Details inside.
 

Debate Heats Up Over CEO Pay Ratio Disclosure

March 29, 2011

A provision of the Dodd-Frank Act requiring companies to disclose the ratio of CEO compensation to that of all other employees has spawned dread among compliance and financial reporting executives. Now Congress has introduced a bill to repeal the measure, and debate rages over a number some say is indeterminable and others intolerable.
 

Debating Dodd-Frank: What's in a Name?

March 16, 2011

Members of the House Financial Services Committee held a hearing last week to consider five possible revisions to the Dodd-Frank Act, ranging from looser rules for derivatives trading to repealing a rule that companies must calculate and disclose median employee pay. More inside.
 

Preparing the IT Department for Dodd-Frank

February 01, 2011

The Dodd-Frank Act puts a host of new hurdles in front of Corporate America. To avoid falling, says Compliance Week columnist James Bone, companies will need to transform their IT and data management systems. Inside, he provides steps for assembling a plan to address the technology requirements of the legislation.
 

Oil, Gas, and Mining Disclosure Proposal Raises Questions

January 25, 2011

The SEC issued a proposal in December that would require public oil, natural gas, and mining companies to disclose details about payments they make to governments. However, critics say the proposal is unclear, uses poorly defined terms, and is fraught with unintended consequences. Details inside.
 

ISS Releases 2011 Proxy Voting Updates

November 22, 2010

They're here: Institutional Shareholder Services has unveiled its 2011 updates to its benchmark proxy voting guidelines.The U.S. policy updates cover new policies to address shareholder votes on say-on-pay frequency and on golden parachute provisions created by the Dodd-Frank Wall-Street Reform and Consumer Protection Act, as well as director attendance, shareholder rights...
 

SEC Seeking Comment for Study on F-Cubed Lawsuits

November 04, 2010

The Securities and Exchange Commission is seeking public comment to help it carry out its Dodd-Frank Act mandated study of whether to allow private plaintiffs the right to bring actions involving transnational securities frauds.In a June decision in Morrison v. National Australia Bank, the Supreme Court significantly limited the extraterritorial...
 

Dodd-Frank Whistleblower Proposals Arrive

November 03, 2010

Let the comments commence: Compliance professionals finally have the details of the Securities and Exchange Commission's proposed rules to pay whistleblowers who report securities violations.The proposals, detailed in a 181-page release published for comment Nov. 3, implement the Dodd-Frank mandate to set up a program to pay awards of up...
 

U.S. Enforcement of FCPA Draws Scrutiny

November 02, 2010

U.S. anti-bribery enforcement efforts have come under heightened scrutiny, just as two new laws are expected to launch those efforts into overdrive.The Foreign Corrupt Practices Act, which makes it a crime for U.S. companies and their employees to pay bribes to foreign officials to obtain business abroad, ought to be...
 

Whistleblowers, Naked Access, Swaps on SEC Agenda

October 27, 2010

Compliance executives should soon get some much-desired clarity about how the new whistleblower bounty program provided for by the Dodd-Frank Act could impact their companies.Proposals related to the whistleblower provisions are among the items on the agenda for a Nov. 3 Securities and Exchange Commission open meeting.The SEC will consider whether to propose rules...
 

Corp Fin Director on Dodd-Frank, Pay Rulemaking

October 26, 2010

Those interested in the governance and pay-related provisions under the Dodd-Frank Act got an update on the Securities and Exchange Commission's progress and plans for putting those rules in place, courtesy of the head of the agency's Division of Corporation Finance.With the say-on-pay rulemaking proposals now out for comment, the...
 

Data Shows Employee Fraud Incident Reports Declining

October 20, 2010

A reminder to compliance executives that it might be a good time to check what's going on with your firm's reporting hotline, if you haven't done so lately: Recent data shows fraud incident reporting by employees is on the decline.Following a surge of in-house fraud reporting last year, fraud incident reports have...
 

SEC Proposes Say-on-Pay, Proxy Vote Reporting Rules

October 19, 2010

They're here: The Securities and Exchange Commission has proposed rules requiring companies subject to the federal proxy rules to give shareholders advisory votes on executive compensation and "golden parachute" arrangements, and to require institutional investment managers to report on their votes on executive compensation and "golden parachute" arrangements.That's in line...
 

SEC Dodd-Frank Derivatives, ABS Rulemaking Underway

October 18, 2010

The Securities and Exchange Commission has begun a wave of Dodd-Frank Act-mandated rulemaking aimed at closing the regulatory gaps in the over-the-counter derivatives market and giving investors better information about the loans backing asset-backed securities.The reform law requires the Commission to issue a slew of rules to bring the complex...
 

Expert Tips for Prepping for Say on Pay Votes

September 23, 2010

As compensation committees prepare for their fall meetings and the upcoming proxy season, one item that will undoubtedly be near the top of the agenda is shareholder advisory or "say on pay" votes, which will be mandatory for annual shareholder meetings in 2011, thanks to the Dodd-Frank Act.While SOP has...
 

The SEC's Busy Dodd-Frank Rulemaking Schedule

September 21, 2010

Those involved in any facet of corporate compliance, governance, and/or financial reporting now have a roadmap of sorts for what they can expect to fill up their calendar—and to submit comments on—in the coming months.The Securities and Exchange Commission has laid out a schedule of how it plans to tackle...
 

SEC Committee to Get a Makeover Due to Dodd-Frank

September 13, 2010

The committee created to provide the Securities and Exchange Commission with input on investor concerns is getting a makeover of sorts, courtesy of the Dodd-Frank Act.The existing SEC Investor Advisory Committee, created in June 2009, is being disbanded and will be constituted to meet the requirements under the reform law,...
 

SEC, CFTC Slate Talks on Security-Based Swap Matters

September 08, 2010

The Securities and Exchange Commission and Commodity Futures Trading Commission are seeking more public input as they work to craft new rules to regulate the over-the-counter derivatives market as part of their work to implement Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.The two agencies announced...
 

In 3-2 Vote, SEC Finally Adopts Proxy Access Rule

August 25, 2010

Corporate America get ready: Like it or not, proxy access has finally arrived.In a 3-2 vote, the Securities and Exchange Commission adopted a 451-page rule to allow shareholders access to a company's proxy materials to include their nominees to the corporate board of directors.Under the new rules, a qualifying shareholder...
 

It's Official: SEC to Take Up Proxy Access Aug. 25

August 18, 2010

Confirming the recent rumors, the Securities and Exchange Commission has officially posted notice that it will finally hold a vote next week on a proposal to give shareholders access to corporate proxies for nominating directors.According to the Aug. 18 Sunshine Act Meeting Notice, the SEC will hold an open meeting on Aug. 25 to...
 

Reminder: Broker Votes Out for Say On Pay

August 17, 2010

Companies may need to revisit their proxy math: Broker discretionary votes are officially out for say-on-pay proposals.Per Section 957 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the national securities exchanges are required to amend their rules to prohibit member organizations from voting shares without specific client instructions...
 

SEC Open for Dodd Frank Rulemaking Comments

July 27, 2010

With an agenda full of congressionally mandated studies and rulemaking to tackle thanks to the Dodd-Frank Act, the Securities and Exchange Commission is trying a new approach to getting public input: inviting public comment on a number of topics even before it has proposed rules or opened official comment periods.With...
 

SEC Guidance and No-Action Address 436(g) Repeal Issues

July 23, 2010

The Securities and Exchange Commission has taken swift action to address one of the undoubtedly long list of issues stemming from the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act.The staff of the Division of Corporation Finance has issued guidance and no-action relief to deal with an...
 

SEC Ramping Up to Implement Dodd-Frank Reforms

July 21, 2010

As compliance officers mull the impact of the Dodd-Frank Act on their organizations, the Securities and Exchange Commission is ramping up to do its part in implementing the various rulemakings and studies required under the law, which is slated to be signed by the President today.While the dollar cost of full...
 

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