Wanted: one C-level executive to act as trusted confidant on legal matters and chief enforcer when things go awry; must be versed in ethical behavior and a law school graduate; knowledge of corporate litigation and regulatory risks is essential; expected to lead battles against meddlesome regulators. Long hours, good pay. Welcome to the world of […]
Melissa Klein Aguilar
Posted inInternal Controls
Cox Talks 404; Brits Abandon XBRL; More
While all companies will be subject to the audit of internal controls required under Section 404 of Sarbanes-Oxley, the head of the Securities and Exchange Commission says regulators will lighten the burden of the requirement on smaller companies, according to a published report. In a recent interview with The New York Times, Cox said regulators […]
Posted inFrom the Archive
In Wake Of Comp Rule, Perks In Crosshairs
Perks have blossomed as a form of executive compensation for years. Under the new rules for disclosing executive compensation, however, expect to see companies start pruning away excessive growth in the field. The extent to which companies change or reduce how they give perks, or amend perquisite policies, won’t be fully known until 2007 proxy […]
Posted inBoards & Shareholders
ISS Gets Sold; SEC Talks Related-Party Deals
A risk-analysis business with strong ties to Wall Street has scooped up proxy advisory giant Institutional Shareholder Services for roughly $550 million, a deal that may further embed corporate governance into the decision-making processes of global institutional investors. Just more than a month after rumors that ISS was on the auction block, financial risk-management firm […]
Posted inFrom the Archive
Shorter 10-K Filing Deadlines Loom
With a shorter filing deadline for the largest issuers to file their 10-Ks with the Securities and Exchange Commission about to take effect, companies that aren’t yet ready for the faster filing timeframe will have their work cut out for them, experts say. Under rules completed in September 2005, large accelerated filers—those with a public […]
Posted inFrom the Archive
Comments In, ‘Couric Rule’ Plods Forward
With the comment period now closed on the last portion of the Securities and Exchange Commission’s rule on disclosure of executive compensation—a controversial idea to require public companies to disclose the pay of some top non-executive employees—Corporate America is waiting to see whether the SEC will forge ahead, revise the plan, or act on suggestions […]
Posted inFrom the Archive
Proper Nurturing Of Whistleblower Hotlines
Whistleblower hotlines may be one of the more demanding details of compliance with the Sarbanes-Oxley Act, but it turns out that the proper care and nurture of such hotlines does deliver a nifty boost to corporate-governance efforts. Research by the Association of Certified Fraud Examiners shows that companies have much to gain—or more precisely, less […]
Posted inBoards & Shareholders
NYSE Acts On Broker-Voting Ban; More
The New York Stock Exchange has filed a rule proposal with the Securities and Exchange Commission that would eliminate the long-standing policy of broker discretionary voting in director elections in 2008. The expected rule proposal comes roughly a month after Compliance Week reported that the NYSE said it would act to amend Rule 452—the so-called […]
Posted inFrom the Archive
CEO Pay May Not Jump, But Scrutiny Will
Corporate board members increasingly believe at least some executives may be overpaid—and while they might not cut those inflated salaries any time soon, boards to expect to pay more attention to compensation packages before granting them. Those are among the findings of the 10th annual study on corporate board effectiveness conducted by executive search firm […]
Posted inFrom the Archive
New Related-Party Disclosure To Trip Cos.?
With the Securities and Exchange Commission’s new disclosure rules taking effect next month, companies need to pay particular attention to changes to the disclosures they will have to make about related-party transactions, experts warn. As a result of these new rules, observers note that stockholders will have greater visibility into the existence of relationships between […]
