The New York Stock Exchange plans to file a rule change with the Securities and Exchange Commission either this week or next week to clarify disclosure requirements related to the independence of board directors, NYSE officials said. The Exchange is also considering an indicator that would flag companies that are out of compliance with its […]
Melissa Klein Aguilar
Posted inFrom the Archive
Oxley On SOX: Room For Changes, But Not From Congress
Critics of Sarbanes-Oxley who’ve been hoping that Congress might tinker with the legislation had their hopes dashed last week by one of the lawmakers who crafted the legislation. Oxley Three years after the passage of the landmark Act that bears his name, Rep. Michael Oxley, (R-Ohio), said there’s room for flexibility in the statute, but […]
Posted inFrom the Archive
NYSE: Companies May Not Need To Mail Printed Reports
In another effort to move to electronic delivery of compliance documents, the New York Stock Exchange is hoping to jettison a requirement that its listed companies deliver paper copies of their annual reports. Experts say it’s the next step in the trend toward “access-equals-delivery,” a concept recently adopted by the Securities and Exchange Commission in […]
Posted inInternal Controls
New Studies Look At Cost Reductions In Year Two Of SOX
Whether they believe in the merits of Sarbanes-Oxley or not, executives at public companies may be interested in the findings of two new reports related to the Act, both of which predict reductions in the Year Two costs associated with complying with Section 404, the much-maligned provision of the law that deals with internal control […]
Posted inFrom the Archive
New Risks Come With Securities Act Reform
With the Dec. 1 effective date for sweeping changes to the securities offering process just weeks away, experts expect the revisions to impact the practices of both issuers and underwriters. But they say just how big an impact depends on the class of issuer, since different rules apply for the four categories of issuers. As […]
Posted inFrom the Archive
More Recommendations From Advisory Group Likely
The advisory committee to the Securities and Exchange Commission on smaller public companies is set to meet this week in New York for the first of two meetings scheduled for October. Thyen On Friday, the group’s members will hold a fact-finding meeting, where they will hear from additional small cap investors. Committee co-chair James Thyen, […]
Posted inRegulatory Enforcement
SEC Asks Court To Reverse Ruling On Civil Injunctions
The Securities and Exchange Commission is asking a court of appeals to delete a footnote ruling that most legal experts expected would prompt changes in the way the Commission crafts civil injunctions, one of its most widely used enforcement tools, Compliance Week has learned. NOTE Update According to an email received the morning this story […]
Posted inFrom the Archive
Deferred Comp. Rules A Mixed Bag For Public Companies
Proposed regulations on deferred compensation issued recently by the U.S. Department of The Treasury and IRS hold both good and bad news for public companies, experts tell Compliance Week. The good news, according to some, is that the proposed regulations provide some desperately needed guidance on interpreting the deferred compensation rules, and extend transition relief […]
Posted inFrom the Archive
Deferred Comp. Rules A Mixed Bag For Public Companies
Proposed regulations on deferred compensation issued recently by the U.S. Department of The Treasury and IRS hold both good and bad news for public companies, experts tell Compliance Week. The good news, according to some, is that the proposed regulations provide some desperately needed guidance on interpreting the deferred compensation rules, and extend transition relief […]
Posted inFrom the Archive
Going Private And SOX: A Q&A With VTB’s CEO
The Vermont Teddy Bear Co. Inc., a $66.6 million direct marketer of specialty gifts, best known for its Bear Grams, recently went private at $6.50 a share through an acquisition by private equity firm Hibernation Holding Company Inc. The company, which went public in 1993 and traded on the NASDAQ under the ticker symbol BEAR, […]
