While many companies have made changes to compensation plans to pass muster with shareholders over the last few years—this is the third year that companies are required to solicit say-on pay votes at their annual meetings—plenty of companies are still getting red-lighted on executive pay. It’ still early in the proxy season, but already the […]
Joe Mont
Posted inUncategorized
Healthcare Companies Struggling Still With Sunshine Act Compliance
For drug companies and medical equipment makers, the Sunshine Act could mean some dark days ahead as they struggle with cost, complexity, and even legal risks. The provision, known more formally as the Physician Payment Sunshine Act, requires manufacturers of drugs, medical devices, biologics, and medical supplies that are covered under Medicare, Medicaid, or a […]
Posted inFrom the Archive
House Passes Bill Demanding Tougher SEC Cost-Benefit Analyses
With supporters touting it as an antidote to excessive, costly, and job-killing regulations, the U.S. House of Representatives on Friday approved a bill that imposes new cost-benefit analyses upon financial regulations. Introduced by Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, H.R. 1062, the SEC Regulatory Accountability […]
Posted inFrom the Archive
Recess Appointment Ruling Hits NLRB as Senators Duel Over Nominees
On the same day U.S. Senators grilled nominees to the National Labor Relations Board, yet another court ruling vacated one of its orders over contested “recess appointments” made by President Obama. On Thursday, with a 2-1 vote, the U.S. Court of Appeals for the Third Circuit (Philadelphia) ruled against an agency decision and order in […]
Posted inFrom the Archive
European Union Directive Takes Aim at Credit Rating Agencies
Credit rating agencies face additional scrutiny and restrictions from a new directive and regulation approved this week by the European Council. They are intended to reduce investors’ over-reliance on external credit ratings, mitigate the risk of conflicts of interest, and increase transparency and competition within the industry. Citing the complexity of structured finance instruments and […]
Posted inFrom the Archive
Critics Prompt Nasdaq to Withdraw Internal Audit Rule Proposal
Nasdaq has withdrawn a proposed rule that would have required listed companies to establish and maintain an internal audit function. “In light of the breadth and nature of the comments from our issuer community, and others, Nasdaq has determined to withdraw the proposal so that we may adequately consider these comments,” the exchange wrote, adding […]
Posted inUncategorized
Comp Committee Standards Arrive
Forget the Fourth of July—for companies listed on the New York Stock Exchange and Nasdaq, July 1 is independence day. That’s the deadline for compliance with new listing standards for board directors serving on compensation committees. No compliance with those new standards for director independence means no trading on those exchanges any longer. The listing […]
Posted inFrom the Archive
CFPB New Civil Penalty Fund, Seeks Public Comment
The Consumer Financial Protection Bureau has issued a rule governing the administration of its new Civil Penalty Fund, created to compensate victims of a person or company that was fined in an enforcement action. The fund, established by the Dodd-Frank Act, will draw from civil penalties collected by the CFPB from violations of federal consumer […]
Posted inFrom the Archive
Healthcare Changes Require 190 Million Hours of Paperwork, Report Says
Armed with a “would you believe it?” array of statistics, Congressional Republicans have launched their latest salvo against the compliance and paperwork demands created by the Affordable Care Act. The House Energy and Commerce, Ways and Means, and Education and the Workforce committees on Tuesday released an updated version of their “Obamacare Burden Tracker,” an […]
Posted inFrom the Archive
SEC Under Fire for Failing to Curb Mandatory Arbitration Clauses
Critics of the mandatory arbitration demands broker-dealers and investment advisers often require of their customers have stepped up their fight to get the Securities and Exchange Commission to either limit or end the practice. In a letter to SEC Chairman Mary Jo White, the North American Securities Administrators Association, a coalition of state securities regulators, […]
