As the one-year anniversary of the passing of the Dodd-Frank Act approaches, regulators are blowing through deadlines for proposing or issuing final drafts on dozens of rules. Agencies including the Securities and Exchange Commission and the Commodity Futures Trading Commission, among others, have missed deadlines on high-profile rules, including new executive compensation disclosures and final […]
Arielle Bikard
Posted inAccounting & Auditing
‘Much Remains to be Done’ for FSOC, Says Schapiro
The Financial Stability Oversight Council has some of the most critical issues still ahead of it in the implementation of rules under the Dodd-Frank Act, said Securities and Exchange Chairman Mary Schapiro in her testimony on monitoring systemic risk and promoting financial stability to the Senate Committee on Banking, Housing and Urban Affairs today. “While […]
Posted inUncategorized
SEC Proposes Rule on Adviser Fees Under Dodd-Frank
The Securities and Exchange Commission proposed a rule yesterday under the Dodd-Frank Act that would adjust the threshold amounts for inflation that a “qualified client” must meet before an investment adviser can charge performance fees. The initial adjustment would take effect by July 21, and future changes would be made every five years. Under the […]
Posted inUncategorized
Regulatory Agencies Conduct Rulemaking Review
Government agencies are in the process of reviewing their rulemaking procedures and their entire body of regulations as part of a broad directive to eliminate unnecessary rules. All non-independent federal agencies are required to submit a plan to the Office of Information and Regulatory Affairs by May 18 for regularly reviewing all existing under President […]
Posted inRegulatory Enforcement
Using Law Enforcement Techniques in Investigations
In the current climate of aggressive regulatory enforcement against fraud, bribery, and a host of other corporate transgressions, compliance officers need to make sure that they aggressively detect and deter misconduct at their organizations. To that end, compliance officers can learn a great deal from auditors with experience in the Federal Bureau of Investigation and […]
Posted inFrom the Archive
Reminder for Companies: Commission Not Bound To Corp Fin Comments
The Securities and Exchange Commission’s Division of Corporation Finance will be adding an extra paragraph starting today as part of their review of filings to remind companies that the Commission is not bound to the Corp Fin’s comments, according to a statement. The added paragraph will read as follows: “We have completed our review of […]
Posted inAccounting & Auditing
SEC To Host Roundtable on Money Market Fund Reform
The Securities and Exchange Commission will host a roundtable discussion tomorrow “on the potential effectiveness of certain options in mitigating systemic risks associated with money market funds,” according to a statement published on Sunday. Roundtable participants will be from the Financial Stability Oversight Council, as well as sponsors of money market funds, short-term debt issuers, […]
Posted inFrom the Archive
Say-on-Pay Casualties: 12 Companies … And Counting
With proxy season well underway, the number of companies that have failed their say-on-pay vote is up to 12—out of the 566 companies that have reported their say-on-pay votes so far, according to yesterday’s update from Towers Watson. While the overall failure rate on say-on-pay, therefore, is 2 percent, the percentage of negative shareholder votes […]
Posted inFrom the Archive
Schapiro Addresses Flash Crash Prevention Plans
Exactly a year after the stock market “flash crash,” in which the Dow Jones Industrial Average dropped 600 points in about five minutes, the Securities and Exchange Commission Chairman Mary Schapiro vowed to continue to strengthen the defenses of the markets against a repeat incident. More important than the harm that such price volatlity caused […]
Posted inUncategorized
FDA Issues First Regulations Under Food Safety Modernization Act
The Food and Drug Administration issued two new interim final rules to address food safety that will both take effect on July 3, the agency said today in a statement. The first rule allows the FDA to detain food products it believes may be contaminated or mislabeled for up to 30 days, during which time […]