Given the ubiquity of iPhones, iPads, and Android-based devices—as well as the perpetual postings to social media sites by the employees who use them—you might expect that most companies have adopted comprehensive policies by now on the use of mobile devices. THE PANELISTS The following executives participated in the Sept. 18 roundtable on how to […]
Joe Mont
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Large Bank Stress Test Final Rule Published by OCC, FDIC
A final rule outlining how stress testing required by the Dodd-Frank Act will be implemented was published by federal banking regulators on Tuesday. The rule, announced by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation, implements annual, company-run stress testing requirements found in Section 165 of the legislation. It applies to […]
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SEC Issues Wells Notice to Proxy Adviser ISS
In an 8-K filing with the SEC this week, MSCI Inc. disclosed that a whistleblower complaint against a subsidiary, the proxy advisory service Institutional Shareholder Services, has led to a Wells Notice being issued, in advance of a public administrative proceeding, by the Securities and Exchange Commission’s Division of Enforcement. On Feb. 13, 2012, the company […]
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British Regulator Mulls Limits for ‘Controlling Shareholders’
The Financial Services Authority, the U.K.’s top financial regulator, has announced reform proposals intended to provide greater scrutiny of reverse mergers and improve corporate governance standards for companies with a “controlling shareholder.” The changes detailed in a “consultation paper” released on Tuesday would apply to its listing rules for companies listed in the United Kingdom […]
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Dual-Class Shares Get Double Teamed by Critics
Multi-class stock structures were double teamed on Tuesday with two groups attacking them from different angles—that shareholders not only suffer from a lack of control, they also face diminished returns over time. Coming at the issue from a shareholder advocacy angle, the Council of Institutional Investors (CII)—a non-profit association of pension funds, foundations and endowments […]
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Regulators Hit American Express with $85 million in Customer Refunds
A settlement with multiple regulators over allegations of deceptive marketing practices and dishonest debt collection will cost American Express a total of $27 million in civil penalties and $85 million in restitution to more than 250,000 consumers. Those totals represent separate settlements reached with the Consumer Financial Protection Bureau, the Office of the Comptroller of […]
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Peer Pressure: Is Benchmarking to Blame for Runaway CEO Pay?
As scrutiny of soaring executive pay continues, the latest source of hand-wringing is how companies benchmark against peer groups—the group of CEOs at similar companies that compensation consultants use to help set CEO salaries and benefits packages. Ideally, evaluating executive pay in light of what others get at companies in the same industry and of […]
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News Corp. Names Five Group Compliance Officers
News Corp. will take a major step in the ongoing restructuring of its compliance function by naming five group compliance officers to oversee various business units. News of the plan was first reported Sunday by the Financial Times with an official News Corp announcement expected soon. In August, still reeling from a phone hacking scandal […]
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Judge Throws Commodity Position Limit Rules Back to CFTC
A federal court has put a stop to limits the Commodity Futures Trading Commission was set to impose on firms trading in certain commodity contracts in an effort to prevent price manipulation by speculators. The lawsuit, International Swaps and Derivatives Association v. U.S. Commodity Futures Trading Commission, was filed in U.S. District Court in the […]
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News Corp. Names Group Compliance Officers as Part of Overhaul
News Corp. will take a major step in the ongoing restructuring of its compliance function by naming five group compliance officers to oversee various business units. News of the plan was first reported Sunday by the Financial Times with an official News Corp announcement was expected on Monday. In August, still reeling from a phone […]
