Rule change

Expanded 'Disabled' Definition Could Lead to More Claims

April 05, 2011

The Equal Employment Opportunity Commission has approved final new regulations expanding the label of "disabled" to a wide range of chronic illnesses, paving the way for more disability claims against employers to go to trial. "More and more people will be considered 'covered' under these revised regulations," says Tom Bright of law firm OgleTree Deakins. Full details inside.
 

SEC May Shorten 13D Reporting Deadline

March 22, 2011

One of Wall Street's heavy-hitting law firms is calling on the Securities and Exchange Commission to propose new rules that would make it harder for activist investors to remain in the shadows as they buy up large holdings of stock in companies. So far, the SEC appears to be listening.
 

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.
 

Proxy Access Rules Effective Nov. 15, but Who Is Affected?

September 16, 2010

At last, Corporate America finally has the answer to a question it's been awaiting for weeks: When will the Securities and Exchange Commission's new proxy access rule take effect?The answer—Nov. 15.—arrived with the rule's publication in the Federal Register on Sept. 16. That means shareholder nominees will be allowed at...
 

Reminder For Employers: Final I-9 Rule Effective Aug. 23

August 02, 2010

Reminder for employers: Changes take effect this month to the Department of Homeland Security regulation that permits electronic signature and storage of the Form I-9 used to verify employees' work authorization.The final rule, which takes effect Aug. 23, makes minor changes to a June 2006 interim final rule that allows...
 

BIS Rule for Encryption Export Effective, Out for Comment

July 01, 2010

Companies that produce and/or export products that use encryption take note: A new rule now in effect requires more attention to record-keeping and changes to current systems.The Commerce Department's Bureau of Industry and Security has revised the encryption rules in the Export Administration Regulations, changing the conditions and procedures for...
 

SEC Amends e-Proxy Rules, Launches Investor Ed Efforts

February 23, 2010

As part of efforts to reverse a decline in retail voter participation in corporate elections, the Securities and Exchange Commission has approved the proposed amendments to its so-called e-proxy rules and launched an investor education campaign.The e-proxy amendments, detailed in a 32-page adopting release published Feb. 22, provide more flexibility...
 

SEC Oks Tweaked Proxy Disclosure Enhancements for 2010

December 16, 2009

Those tasked with drafting proxy disclosures take note: The Securities and Exchange Commission has approved proposed amendments to its proxy disclosure rules, with some notable changes from the July proposing release, that you'll have to incorporate into your 2010 proxy disclosures.The SEC, in a 4-1 vote, okayed proposed changes to...
 

NYSE Governance Changes Take Effect Jan. 1, 2010

December 07, 2009

The Securities and Exchange Commission gave the go-ahead to a number of changes to the NYSE's corporate governance rules, effective Jan. 1, 2010.The changes, proposed in August, mostly aim to bring the exchange's requirements for its listed companies in line with current SEC requirements."For the most part, the changes should...
 

NYSE Lowers IPO Public Float Requirement

August 21, 2009

The Securities and Exchange Commission has okayed a proposed rule change filed by the New York Stock Exchange to lower its public float requirement for initial public offerings.The amendment lowers the public float requirement for IPOs, spin-offs, and companies listed under the Exchange's Affiliated Company standard from $60 million to $40 million.The lower public float requirement applies to...
 

More Delay, Changes for Mass. ID Theft Rules

August 19, 2009

Massachusetts' Office of Consumer Affairs & Business Regulations has once again delayed the effective date of its identity theft regulations and announced proposed changes to the rules that should make them more consistent with federal law and somewhat more palatable for smaller companies.Under the latest postponement, the proposed new rules...
 

Proposal Could Facilitate Activist Solicitations

July 17, 2009

One sleeper item that might be of interest to companies and shareholder activists in the Securities and Exchange Commission's proposing release for its proxy disclosure and solicitation enhancements: An amendment that observers say could potentially facilitate activists' solicitation activities.The proposed amendment, which is part of a broad package of reforms...
 

TCB: Action Needed to Prep for Broker Vote Change

July 07, 2009

In order to prepare for the elimination of broker votes in director elections that takes effect before the upcoming proxy season, companies should take action now, by analyzing historical shareholder trends and monitoring future extraordinary voting patterns, among other things, The Conference Board (TCB) advises.As Compliance Week reported, the SEC...
 

SEC Approves NYSE Broker Vote Ban in Director Elections

July 01, 2009

The Securities and Exchange Commission voted 3-2 along party lines to approve the New York Stock Exchange rule amendment that effectively ends broker discretionary voting in director elections.The rule change will be effective for shareholder meetings held on or after Jan. 1, 2010.At today's open meeting, Commissioners Elisse Walter and...
 

Changes to NYSE Immediate Release Policy in Effect

May 18, 2009

Reminder to NYSE-listed companies: Recent changes to the Exchange's immediate release policy are now in effect.Changes to NYSE Rule 202.06 allow companies to disseminate material information by any Regulation Fair Disclosure-compliant method to comply with the immediate release policy, rather than always requiring companies to issue a press release as...
 

NYSE Proposes Change to Immediate Release Policy

April 20, 2009

The New York Stock Exchange has filed a proposal to amend its listing rules to allow companies to comply with its immediate release policy by disseminating information by any Regulation Fair Disclosure-compliant method, rather than always requiring a press release.Currently, to comply with the Exchange’s immediate release policy—which calls for...
 

NYSE Tries Again to Ban Broker Votes in Director Elections

February 27, 2009

It's déjà vu all over again. The NYSE is once again proposing to amend its rules to eliminate broker discretionary voting in director elections.NYSE Rule 452 allows brokers to vote on “routine” proposals if the beneficial owner of the stock hasn’t provided specific voting instructions to the broker at least...
 

Corp Fin Gives Guidance on Form D

February 20, 2009

A friendly reminder and some helpful guidance from the Securities and Exchange Commission’s  Division of Corporation Finance for Form D filers: Starting March 16, the form must be filed electronically.Until March 15, 2009, Form D filers can submit filings in either paper or electronic form.After that, Form D filers must...
 

SEC Okays Nasdaq Rule Change on Annual Reports

February 03, 2009

The Securities and Exchange Commission has approved a Nasdaq rule filing that modifies the exchange’s listing requirements related to the distribution of annual reports.Previously, Nasdaq Rule 4350(b)(1)(A) required that a company either distribute a physical copy of its annual report to shareholders, or issue a press release announcing the filing...
 

XBRL Adopting Release Arrives

January 30, 2009

Just in time for the weekend, financial reporting executives have some light reading, courtesy of the Securities and Exchange Commission.The agency has finally posted the long-awaited 206-page adopting release for the rule mandating the use of XBRL technology. The rule, formally known as Interactive Data to Improve Financial Reporting, was...
 

NYSE Eases Market Cap Standard for Listed Cos.

January 27, 2009

In an effort to help some companies battered by extreme market volatility in recent months avoid delisting, the New York Stock Exchange announced a plan to temporarily lower the average market capitalization required of its listed companies from $25 million to $15 million.The temporary reduction, announced in a Jan. 23...
 

Nasdaq Extends Suspension of Delisting Rules

December 23, 2008

The Nasdaq Stock Market has asked the Securities and Exchange Commission to extend the temporary suspension of some of its listing requirements for another three months.A proposed rule change, filed Dec. 18, would extend until April 19, 2009, the current suspension of the bid price and market value of publicly...
 

SEC Approves Final XBRL Rule

December 17, 2008

Just in time for the holidays, large companies got a gift from the Securities and Exchange Commission: Six extra months to comply with the long-awaited new rule mandating the use of interactive data.At its Dec. 17 open meeting, the SEC voted 4-1, with Commissioner Luis Aguilar dissenting, to adopt amendments...
 

NASDAQ Temporarily Suspends Some Listing Requirements

October 27, 2008

Nasdaq has filed a proposed rule change with the Securities and Exchange Commission temporarily suspending some of its listing requirements, in light of “extraordinary market conditions.”The rule change temporarily suspends, through Jan. 16, 2009, the application of the continued listing requirements related to bid price and market value of publicly...
 

SEC Acts on Short-Selling Rules

October 15, 2008

The Securities and Exchange Commission took action on rules aimed at curbing abusive short selling, making final two rules it had adopted temporarily and publishing an interim final rule for comment.The SEC had used its emergency authority to adopt temporary rules banning short-selling at all companies in mid-September in an...
 

FPI Amendments, Cross-Border Tender Offer Guidance

September 24, 2008

For those looking for some light reading, the Securities and Exchange Commission has posted the 119-page adopting release for its Foreign Issuer Reporting Enhancements, part of a package of amendments approved Aug. 27 to modernize its rules relating to foreign private issuers.As Compliance Week reported, most of the amendments are...
 

Federal Rule of Evidence 502 in Effect

September 24, 2008

Companies involved in litigation will want to take a look at new Federal Rule of Evidence 502, now in effect.The rule was created by S. 2450, which was signed into law Sept. 19 by President Bush. The legislation amends the Federal Rules of Evidence with respect to the disclosure of...
 

SEC Halts Short Selling in 799 Financial Companies

September 19, 2008

A day after it banned naked short selling, the Securities and Exchange Commission, in concert with the U.K. Financial Services Authority, took temporary emergency action to prohibit short selling in financial companies to shore up investor confidence. The U.K. FSA took similar action yesterday.The Commission’s action, effective immediately, will apply...
 

SEC: New Guidance on Form D e-Filing Requirements

September 15, 2008

The SEC has posted new guidance for issuers related to their Form D filings.The Division of Corporation Finance Guidance on Form D Filing Process explains how to electronically file Form D, a form for a notice required to be filed by companies and funds that have sold securities without registration...
 

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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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