The Securities and Exchange Commission this week is taking the first step toward new rules to overhaul the disclosures companies must make about what they pay their top executives and directors. The SEC will meet to today to propose amendments to the disclosure requirements for executive and director compensation, related party transactions, director independence and […]
Melissa Klein Aguilar
Posted inData Privacy
France OKs Online Approval Of Whistleblower Plans
In a move expected to clear a path for companies seeking to implement whistleblower systems in France that will comply with both the Sarbanes-Oxley Act and French data protection laws, the French Data Protection Agency has set up a means to let companies get the required approval of their systems online. As expected, the Commission […]
Posted inAccounting & Auditing
Citrin Cooperman Governance Leader Discusses Year Two
In the latest of our weekly Q&As with governance and compliance executives, we talk to Michael Rhodes, partner-in-charge of corporate governance at $41 million Citrin Cooperman. An index of previous conversations is available here. You were recently named partner-in-charge of corporate governance. Tell us about your role and responsibilities. Our practice provides a broad range […]
Posted inFrom the Archive
SEC Gives Nasdaq OK To Issue Public Reprimand Letters
The Securities and Exchange Commission has approved a Nasdaq rule filing that lets Nasdaq issue a public reprimand letter for certain rule violations when the more serious punishment of delisting isn’t appropriate. The rule, effective immediately, allows Nasdaq to issue public reprimand letters for violations of corporate-governance or notification-listing standards other than those required by […]
Posted inRegulatory Enforcement
SEC Publishes Guidelines For Companies On Fines
The Securities and Exchange Commission kicked off 2006 with a public declaration of its standards for levying fines on public companies that violate securities laws. But while the SEC said the move aims to set out objective standards that it will use in levying penalties, some experts say the guidelines may not actually offer companies […]
Posted inFrom the Archive
Accelerated Filing Rules Adopted, With Some Changes
Just before the December holidays began, companies dreading the prospect of shorter quarterly reporting deadlines got a gift from the Securities and Exchange Commission. The SEC has voted to adopt final rules that, among other things, give companies a break from filing their quarterly reports in less time next year. The new rules, adopted during […]
Posted inInternal Controls
SEC Advisory Committee Approves 404 Exemptions, More
A closely watched advisory panel to the Securities and Exchange Commission approved preliminary recommendations it will submit to the SEC in the spring, including one that would exempt most public companies from certain provisions of Sarbanes-Oxley. At a Dec.14 meeting, the SEC Advisory Committee on Smaller Public Companies voted to exempt microcap companies—as defined by […]
Posted inInternal Controls
Report: Steep Declines In 404 Costs For Large, Small Cos.
A new report released this month suggests that both large and small public companies will see huge reductions in the costs associated with complying with Section 404 of Sarbanes-Oxley, as regulators are expected to soon consider whether to scale back the requirements of that provision for some companies. The study of 404 costs, conducted by […]
Posted inFrom the Archive
French Agency Speaks Out On Whistleblower Programs
U.S. companies seeking approval by the French Data Protection Agency to implement whistleblower systems in France will be able to apply online for certification of those programs, according to a representative of the French authority. As reported by Compliance Week on Nov. 29, the French Data Protection Agency, Commission Nationale de l’Informatique et des Liberte’s, […]
Posted inFrom the Archive
The Rise Of The Tally Sheet; Still Lack Of Clarity
With executive compensation poised to remain a front-burner issue, 2006 could go down in history as The Year Of The Tally Sheet. Experts say pressure from regulators, governance experts and institutional investors to make executive pay more transparent—along with fear of legal liability stemming from recent lawsuits—is driving many compensation committees to take a more […]