A push may be coming to re-examine stock ownership guidelines with an eye toward increasing holding requirements.
Joseph McCafferty
Posted inFrom the Archive
SEC Issues Report on Review of Disclosure Requirements
The Securities and Exchange Commission issued a report to Congress on its disclosure rules for U.S. public companies, as part of agency’s ongoing efforts to modernize and simplify disclosure requirements and reduce compliance costs. In the report, required by the JOBS Act, the SEC’s provides an overview of the regulations that govern public company disclosure, […]
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Government Shutdown Will Sideline Some SEC Operations
Congress has yet to pass a continuing resolution that would keep the government open when the new fiscal year begins tomorrow, and it’s starting to look like a government shutdown is real possibility. If Congress can’t get it together and the government is forced to close up shop, several enforcement agencies and business regulators […]
Posted inRegulatory Enforcement
SEC Scolds Trader for Misleading Firm’s Compliance Officer
The Securities and Exchange Commission sanctioned a former portfolio manager at investment firm Boulder Investment Advisers for forging documents and misleading the firm’s chief compliance officer to conceal his failure to report personal trades. An SEC investigation found that Carl Johns failed to report several hundred securities trades in his personal accounts as required under […]
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Compliance Making Strides, but Much Work to Be Done
First, the good news: Chief compliance officers are increasingly reporting directly to the CEO or the board, wearing fewer hats, and leading the effort to establish standards for ethical business conduct. Now the bad news: They generally still don’t have the staff or budget they need to get the job done, they don’t give enough […]
Posted inBoards & Shareholders
Instead of Millions, Exiting CEO Gets to Keep iPad, Phone
We’ve all heard of the BYOD trend, where employees and executives bring their own devices to the office, but how about TOOD (Take Our Old Devices). When CEO Andrew Miller got the boot from voice-conferencing company Polycom last week, he didn’t get the multi-million-dollar kiss many CEOs get as they are shown the door; instead […]
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Walmart FCPA Probe Costs Hit $230 Million and Running
Walmart may be famous for meticulously forecasting inventory needs and consumer spending as if it had a crystal ball, but when it comes to guessing how much a worldwide corruption investigation will cost, the retailer greatly misses the mark. In fact, the probe cost Walmart nearly twice what it budgeted for the first quarter. When […]
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European Commission Moves Ahead on Tax Avoidance Crackdown
As part of an effort to cut down on tax evasion, the European Commission has set up a new initiative it is calling, the Platform for Tax Good Governance. The committee will monitor member states’ progress in tackling aggressive tax planning and clamping down on tax havens, in line with the recommendations presented by the […]
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SEC Embraces Social Media for Company Announcements
Neflix’s Reed Hastings is breathing a sight of relief. The CEO is now free to make company announcements on Facebook without running afoul of Regulation Fair Disclosure. That’s because the Securities and Exchange Commission issued a report that makes clear that companies can use social media outlets like Facebook and Twitter to announce material information so long […]
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SEC Advisory Group Calls for Small-Company Exchange
An advisory committee to the Securities and Exchange Commission recommended the creation of a separate U.S. equity market devoted to the trading of small companies. The Advisory Committee on Small and Emerging Companies, which was formed in September of 2011, released its report last week calling for the new small-company exchange. The companies, defined by […]