Joe Mont

 
 

Recent Articles

Focusing on FCPA Due Diligence Can Pay Off for Companies

May 22, 2013

Armed with government guidance on the Foreign Corrupt Practices Act that was released late last year, compliance officers would do well to stress the business benefits their due diligence efforts can provide, two architects of that guidance said this week at the Compliance Week 2013 conference in Washington D.C.
 

SEC Extends Reg SCI Comments As Another Flash Crash Strikes

May 21, 2013

The Securities and Exchange Commission has extended the public comment period for the proposed Regulation SCI, a slate of technology-related initiatives intended to ensure financial market stability during flash crashes, into early July. The extension comes just days after oil giant Anadarko Petroleum saw its stock swing from $90 to $.01 and then back again, reportedly due to trading glitches.
 

After Three Years, Why Are Companies Losing Say-on-Pay Votes?

May 21, 2013

While many companies have revamped pay plans to pass muster with shareholders, plenty are still failing say-on-pay votes this proxy season, including Navistar International, Comstock Resources, Stillwater Mining, and many others. "Now that we are in the third year of say-on-pay, why are some companies still failing?" asks Brian Sohmers, a general manager at Equilar's. The answer has as much to do with performance as it does with pay. Details inside.
 

Healthcare Companies Struggling Still With Sunshine Act Compliance

May 21, 2013

Drug companies and medical equipment makers are facing dark days ahead as they struggle with the cost, complexity, and even legal risks associated with the Sunshine Act. The Centers for Medicare & Medicaid Services estimate the total cost for Sunshine Act compliance will hit $269 million in year one and $180 million each year going forward. Manufacturers are "struggling to get their systems in place," says Michaeline Daboul, CEO of MMIS, a healthcare software provider.
 

House Passes Bill Demanding Tougher SEC Cost-Benefit Analyses

May 17, 2013

The House of Representatives passed a bill Friday that orders the SEC to perform new cost-benefit analyses for rules the agency wishes to adopt. The bill's Republican backers say the measure will force the SEC to be more thoughtful in its rulemaking, while opponents say the bill does nothing more than impede the agency's ability to do its job.
 

Recess Appointment Ruling Hits NLRB as Senators Duel Over Nominees

May 16, 2013

Last week was a tough one for the National Labor Relations Board. Just before U.S. senators commenced with grilling the current slate of NLRB nominees, yet another court ruling was handed down that vacated an order because of contested recess appointments made by President Obama, further raising the possibility of nullifying NLRB rulings going back to August 2011.
 

European Union Directive Takes Aim at Credit Rating Agencies

May 15, 2013

Credit rating agencies face additional scrutiny and restrictions from a directive and regulation approved this week by the European Council. The new rules are intended to reduce investors' over-reliance on external credit ratings, reduce the risk of conflicts of interest, and increase transparency and competition within the industry.
 

Critics Prompt Nasdaq to Withdraw Internal Audit Rule Proposal

May 14, 2013

Responding to cost and implementation concerns voiced by small and growing enterprises, Nasdaq has withdrawn a proposed rule that would have required listed companies to establish and maintain an internal audit function. It plans to submit a modified rule to the Securities and Exchange Commission after a full review of submitted comments.
 

Comp Committee Standards Arrive

May 14, 2013

Forget the Fourth of July: For companies listed on the New York Stock Exchange and Nasdaq, July 1 is independence day. That is when new standards go into effect for independence of board directors who serve on the compensation committee, and for hiring pay advisers—which may be the trickier part of compliance. Our complete look at following the standards is inside.
 

CFPB New Civil Penalty Fund, Seeks Public Comment

May 13, 2013

The Consumer Financial Protection Bureau has issued a rule governing the administration of its new Civil Penalty Fund, which was created to compensate victims of a person or company that was fined as part of an enforcement action. The first allocations are expected by May 30. More inside.
 
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Addressing the Challenges of Solvency II Pillars 2 and 3
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Information Governance: Managing the Lifecycle of Data
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Who's Minding the Files? Managing the File Transfer Explosion
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Getting It In Writing: The Art of Policy Management
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Information Governance: Managing the Lifecycle of Data
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Anti-Money Laundering Illustrated: Visualizing an Effective Capability
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Thought Leadership

What Does an Effective Customer Risk Assessment Program Look Like?
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Getting Ready for the Physician Payment 'Sunshine' Rule
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New Compliance Week and Kroll Benchmarking Report on Anti-Bribery & Corruption
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Strategies for Aligning GRC with Business Priorities
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Evolution of Compliance: 2013 State of Compliance Survey Results
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