The committee created to provide the Securities and Exchange Commission with input on investor concerns is getting a makeover of sorts, courtesy of the Dodd-Frank Act. The existing SEC Investor Advisory Committee, created in June 2009, is being disbanded and will be constituted to meet the requirements under the reform law, according to a report […]
Melissa Klein Aguilar
Posted inInternal Controls
False Claims Act Settlements Serve as Reminder on Pricing
Recent settlements of allegations brought under the False Claims Act of defective pricing serve as a reminder to companies doing business with the government to tighten up their procedures around pricing. Cisco Systems and Westcon Group North America agreed to pay $48 million to settle claims they made misrepresentations to the General Services Administration and […]
Posted inFrom the Archive
SEC, CFTC Slate Talks on Security-Based Swap Matters
The Securities and Exchange Commission and Commodity Futures Trading Commission are seeking more public input as they work to craft new rules to regulate the over-the-counter derivatives market as part of their work to implement Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The two agencies announced they will hold two […]
Posted inFrom the Archive
DoJ Guidance: When a Consultant Isn’t a Foreign Official
For those who can’t get enough, some more Foreign Corrupt Practices Act guidance, courtesy of the Department of Justice. The latest DoJ FCPA Opinion Procedure Release—the third so far this year—relates to the hiring of a consultant who’s an agent of a foreign government by a U.S. limited partnership pursuing an initiative with that same […]
Posted inFrom the Archive
Poll: Companies Struggle to Address Social Media Risks
Despite the increasing popularity of social media tools like Facebook and Twitter, most companies are still struggling with how to manage their social media risks, according to a poll by Deloitte. Among more than 1,700 respondents to the survey, 84 percent agreed that that “every company should have policies in place to address social media […]
Posted inBoards & Shareholders
SEC Adoption of Proxy Access Draws Mixed Reactions
Making the fourth time a charm, the Securities and Exchange Commission finally adopted a rule to give shareholders access to include a limited number of nominees to the board of directors in a company’s proxy materials. With so-called “proxy access” now a reality, Corporate America must digest the details of the controversial rule, laid out […]
Posted inUncategorized
FTC, DoJ Issue New Horizontal Merger Guidelines
A long-awaited overhaul of the guidelines used by anti-trust regulators to evaluate the impact of mergers between rival firms on competition has arrived. The Horizontal Merger Guidelines detail how the Federal Trade Commission and the Department of Justice evaluate the likely competitive impact of mergers between competitors under federal antitrust laws. They also convey the […]
Posted inBoards & Shareholders
In 3-2 Vote, SEC Finally Adopts Proxy Access Rule
Corporate America get ready: Like it or not, proxy access has finally arrived. In a 3-2 vote, the Securities and Exchange Commission adopted a 451-page rule to allow shareholders access to a company’s proxy materials to include their nominees to the corporate board of directors. Under the new rules, a qualifying shareholder or group of […]
Posted inFrom the Archive
Reports Eye Life Settlement Regulation, Oversight
Questions and concerns about the regulation and oversight of the growing market for life settlements have spurred two separate reports on that market in recent weeks. Typically, under a life settlement, the owner of a life insurance policy sells it to a third-party investor in exchange for a lump-sum payment that exceeds the policy’s cash […]
Posted inFrom the Archive
Dodd-Frank Causes New Oil & Gas Pains
A broad new disclosure provision tucked into the Dodd-Frank Wall Street Reform and Consumer Protection Act is poised to cause plenty of consternation for those in the energy industry. Section 1504 of the Act requires the Securities and Exchange Commission to write rules mandating so-called “Resource Extraction Issuers” to track and disclose the details—in interactive […]
