Buried in paperwork and burdened by regulations and increasing responsibilities. That’s the description Thomson Reuters’ annual board governance survey attaches to boards, and a big part of the reason nearly one-fourth of them are finding it difficult to adequately set “appropriate risk management cultures” within their organizations, even though regulators are demanding it. How boards […]
Joe Mont
Posted inFrom the Archive
NYSE Petitions SEC to Significantly Shorten 13F Filing Deadlines
A push is on for the Securities and Exchange Commission to shorten the deadline for large, institutional investors to disclose their holdings from 45 days after the end of each quarter to just two. A petition for rulemaking in support of that change was submitted on Feb. 1 to the SEC by NYSE Euronext, the […]
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Apple Sued by Greenlight Capital Over Bundled Proxy Proposals
While urging Apple shareholders to reject a proposed amendment to its charter that would eliminate the issuance of preferred stock, Greenlight Capital, a hedge fund that holds more than 1.3 million shares in the company, is also suing the tech giant over its bundling of corporate governance initiatives into a single proxy proposal. Greenlight, an […]
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Fed Governor, Community Banks Continue Push for Tiered Regulations
Bolstered by a Federal Reserve Governor’s push against “one-size-fits-all” regulation, community banks are again stepping up efforts to insulate them from rules they say should only apply to the largest institutions. During a speech at the Southeastern Bank Management and Directors Conference at the University of Georgia on Tuesday, Federal Reserve Governor Elizabeth Duke said […]
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Rating Agency Crackdowns May Signal More Enforcement to Come
There are, and will continue to be, suspicions regarding the timing of a Department of Justice lawsuit against Standard & Poor’s Rating Services announced this week. With another debt ceiling debate and sequestration cuts in our near future, now might be a good time, some are saying, for an attack on the firm that had […]
Posted inRegulatory Enforcement
Terms-of-Use Agreements Pose New Reputational Risks
For years, terms-of-use agreements and privacy policies on Websites, software, and online apps and tools were a legal afterthought; users didn’t look at them, and companies didn’t care about them. In fact, some companies clearly copied them from their competitors or elsewhere, say privacy lawyers. Now, however, after dust-ups at companies like Instagram, Facebook, and […]
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FINRA Wants BrokerCheck Link Included on Member Websites
Pending approval by the Securities and Exchange Commission, the Financial Industry Regulatory Authority will enact a rule change that requires members to include a direct link to its BrokerCheck service on their Websites and any associated social media sites. FINRA established BrokerCheck in 1988 (then known as the Public Disclosure Program) to provide investors with […]
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Latest CFPB Battle Revisits Failed Effort to Create a Commission
The fallout over the D.C. Circuit Court of Appeals’ invalidation of recess appointments made by President Barack Obama continues to intensify. Now, Congressional Republicans are revisiting a once-lost battle that dates back to the creation of the Consumer Financial Protection Bureau and fighting to reconstitute it as a Senate-confirmed, five-member commission. The D.C. court’s decision […]
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Senate Bill Would Strip Authority from CFPB and NLRB, Halt Funding
A Senate bill to cut off funding for the Consumer Financial Protection Bureau and National Labor Relations Board and undo their actions during the past year has been filed in response to a court decision that declared recess appointments made by President Barack Obama to be invalid. On Jan. 25, a three-judge panel of the […]
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End of Independent Foreclosure Reviews Comes Under Fire
Settlements with mortgage servicers that abruptly ended their participation in an Independent Foreclosure Review are facing new scrutiny. On Thursday, Senator Elizabeth Warren (D-Mass.), newly elected and named to the Senate Banking Committee, and Rep. Elijah Cummings (D-Md.), the top Democrat on the House Committee on Oversight and Government Reform, sent a letter to Federal […]
