Responding to a technology glitch on Aug. 22 that disrupted the trading of NASDAQ-listed securities, the latest among numerous “flash Crashes,” Securities and Exchange Commission Chairman Mary Jo White convened a meeting with the top national exchanges on Thursday. Now, they have more work to do. The meeting included representatives of Nasdaq, NYSE and other […]
Joe Mont
Posted inFrom the Archive
Law Firm Files Petition for Alternative Conflict Minerals Disclosures
The law firm Troutman Sanders filed a Petition for Rulemaking with the Securities and Exchange Commission on Thursday that seeks disclosure alternatives to those established by rules regarding the use of “conflict minerals” and up to a two-year deferral. Final rules adopted by the SEC, as mandated by the Dodd-Frank Act, requires companies to assess […]
Posted inBoards & Shareholders
Support for Shareholder Initiatives Ebbed, Says Glass Lewis
The 2013 proxy season lacked much of the drama many had predicted and support for shareholder initiatives didn’t muster much traction, says Glass Lewis in an analysis of shareholder proposals released this week. It was notable, however, that environmental and social issues continued to gain traction, and there was an increased push for disclosures of […]
Posted inAccounting & Auditing
FDIC: Foreign Deposits Of U.S. Banks Will Not Be Insured
Deposits at foreign banks, including branches of U.S. institutions, are not entitled to government insurance according to a final rule approved by the Board of Directors of the Federal Deposit Insurance Corporation on Tuesday. Deposits held at foreign branches of U.S. banks have doubled since 2001 and now total nearly $1 trillion, according to the […]
Posted inUncategorized
As the SEC Prepares Pay Ratio Rule, Companies Look for Solutions
Among the most contentious demands of the Dodd-Frank Act is one of its briefest additions. In just 140 words, a last-minute addition by Sen. Robert Menendez (D-N.J.) instructs the Securities and Exchange Commission to require companies to report the median annual total compensation of all employees, compared as a ratio to the CEO’s total pay. […]
Posted inData Privacy
FTC Stakes Claim as the New Sherriff for Big Data
It is no secret that “Big Data” offers revolutionary potential for companies, and already many are pushing the limits with more targeted marketing and customer intelligence gathering. Now the Federal Trade Commission is working to carve out a role as the protector of consumer privacy as companies ramp up those Big Data efforts. In an […]
Posted inFrom the Archive
Employer Healthcare Reform Reports Simplified in New Rule Proposal
The Treasury Department and the Internal Revenue Service have issued proposed reporting rules for what will be required of insurers and employers under the Affordable Care Act. The rules are part of the employer mandate of the Affordable Care Act, a requirement that businesses with 50 or more employees offer their full-time personnel health insurance […]
Posted inRisk Management
CFTC Takes Another Step Toward High-Speed Trading Rules
In the aftermath of two Nasdaq shutdowns in as many weeks that were blamed on technology glitches, and responding to longstanding concerns about high-speed and automated trading, the Commodity Futures Trading Commission on Monday published a Concept Release that will serve as a precursor to forthcoming rules, restrictions, and trading limits. According to a statement […]
Posted inAccounting & Auditing
Activists Detail Their Expectations for Conflict Minerals Reports
As companies prepare their first required reports on conflict mineral use for the Securities and Exchange Commission, a coalition of socially responsible investors and human rights groups have laid out their suggestions and expectations. A paper released on Thursday, “Expectations for Companies’ Conflict Minerals Reporting,” describes the content sustainability and human rights activists want to […]
Posted inFrom the Archive
CFPB Signals Renewed Crackdown on Credit Rating Data Providers
Consumer credit rating companies, and the firms that feed them with consumer data, have been put on notice by the Consumer Financial Protection Bureau that they must do a better job addressing complaints and inaccuracies. In a bulletin issued on Wednesday, companies that supply information to consumer reporting companies, also known as “furnishers,” will be […]
