The 2013 edition of The Conference Board’s annual Director Compensation and Board Practices survey will be released on Wednesday, offering a comprehensive overview of current corporate practices. The report is based on a survey of 334 public companies conducted by The Conference Board in collaboration with NASDAQ OMX and NYSE Euronext. Compliance Week, the Harvard […]
Joe Mont
Posted inFrom the Archive
CFPB Unveils Implementation Plan for New Mortgage Rules
The Consumer Financial Protection Bureau has announced year-long plans for guiding the mortgage industry’s compliance with new consumer protection rules that go into effect in January 2014. Under the Dodd-Frank Act, the CFPB was required to issue new mortgage rules by Jan. 21, 2013. Having met that deadline it has established a January 1, 2014 […]
Posted inBoards & Shareholders
Shareholders More Willing to Support Environmental, Social Proposals
Environmental and social shareholder proposals are gaining greater voting support from investors at U.S. public companies, according to a recently released survey by the Investor Responsibility Research Center Institute (IRRCi). From 2005-2011, average support for these proposals more than doubled, from about 10 percent to more than 20 percent. During that same time period, the […]
Posted inFrom the Archive
Eight More States Will Join Legal Challenge to Dodd-Frank Act
A legal challenge to the Dodd-Frank Act, with a particular focus on provisions granting the Secretary of the Treasury “liquidation authority” over failing banks, has enlisted eight more state attorneys general to the cause. Attorneys general from Alabama, Georgia, Kansas, Montana, Nebraska, Ohio, Texas and West Virginia are asking the U.S. District Court for the […]
Posted inFrom the Archive
OCC’s Curry Defends End of Independent Foreclosure Reviews
Amid growing scrutiny by Congress, watchdogs, and housing advocates, Comptroller of the Currency Thomas Curry today defended recent mortgage settlements and the move by regulators to end an independent foreclosure review process. Last month, 10 mortgage servicing companies, many of them big banks and all subject to 2011 consent orders issued by the OCC and […]
Posted inFrom the Archive
State of the Union Sets Stage for Renewed Cyber-Security Debate
During the annual State of the Union address, delivered before the newly installed 113th Congress on Tuesday night, President Barack Obama once again stepped into the political hornets’ nest of cyber-security and whether the private sector and government agencies should share anti-hacker data. “We know hackers steal people’s identities and infiltrate private e-mail. We know […]
Posted inFrom the Archive
Senate Banking Committee Starts Session with Dodd-Frank Grilling
What better way to spend Valentine’s Day? The Senate Banking Committee’s first hearing of the 113th Congress, scheduled for Feb. 14, looks to be a standing room only affair, with multiple regulators called upon to offer updates on the progress, or lack thereof, in implementing mandates of the Dodd-Frank Act. Among the witnesses scheduled to […]
Posted inBoards & Shareholders
Shareholder Lawsuits Push for More Pay Disclosure
Investors are pushing for more executive compensation disclosure at some companies, and they are taking a novel approach to getting it. Shareholders have filed a wave of lawsuits, leveraging the Dodd-Frank Act’s requirement that they get an advisory vote on executive compensation, to demand even greater disclosures and are threatening to enjoin annual meetings if […]
Posted inBoards & Shareholders
After Charges of Abuses, SEC May Consider Changes to 10b5-1
Executives and board members probably haven’t worried much about their 10b5-1 stock trading plans. That’s about to change. In recent months, renewed media and shareholder attention has led to growing scrutiny of the plans, which allow insiders to sell shares on preset days or intervals to avoid accusations of insider trading. The Council of Institutional […]
Posted inFrom the Archive
Norwegian Oil Company Speaks Out Against Industry’s SEC Lawsuit
Proponents of greater disclosure for the payments that oil, gas, and mining companies make to governments for extraction rights are celebrating news that at least one global oil company is distancing itself from a pending legal challenge. Norway-based oil company Statoil has spoken out against a pending lawsuit that seeks to overturn rulemaking made in […]
