A federal district court judge is letting the Securities and Exchange Commission proceed with a novel lawsuit testing just how far the agency can go to claw back compensation executives receive improperly. The case pits the SEC against Maynard Jenkins, former CEO of auto parts retailer CSK Auto Corp. The agency wants Jenkins to return […]
Melissa Klein Aguilar
Posted inRegulatory Enforcement
More Proof of Global Anti-Bribery Crackdown
Enforcement officials have been hammering home the message for more than a year, but if any global corporations still want proof: A new report has more hard evidence that enforcement of anti-bribery laws is increasing, albeit slowly, around the world. The study, released this month by anti-bribery group TRACE International, shows that while the United […]
Posted inFrom the Archive
Survey Sheds Light On E-discovery Challenges
While many IT, legal, risk and compliance professionals expect their companies’ e-discovery efforts and challenges to increase in the next few years, most don’t expect their companies to be very effective at dealing with those challenges, according to a new survey released by the Deloitte Forensic Center. During the next three years, 49 percent of […]
Posted inFrom the Archive
SEC, Canadian Regulators Tighten Oversight With MOU
The Securities and Exchange Commission has forged an agreement with securities regulators in Quebec and Ontario to better coordinate supervision of regulated entities such as broker-dealers and investment advisers that operate across the U.S.-Canadian border. While they already cooperate on securities enforcement matters, leaders of the SEC, Quebec Autorité des marchés financiers and Ontario Securities […]
Posted inFrom the Archive
Elson, Hubbard Lead Study Group on Corporate Boards
A blue ribbon panel of academics, directors, and institutional investors and others plans to study the roles of boards of directors in corporate governance and issue a report on board practices later this year. The group, led by Charles Elson, director of the University of Delaware’s Weinberg Center for Corporate Governance, and R. Glenn Hubbard, […]
Posted inRegulatory Enforcement
As Financial Reform Looms, Directors Ponder Implications
As efforts to revamp U.S. financial regulation move closer to the finish line, a panel of current and former Securities and Exchange Commission officials recently offered their thoughts on what the new regulatory landscape will mean for corporate board directors. A House-Senate conference committee began work last week to reconcile the differences in the financial […]
Posted inInternal Controls
Paper Argues Alternatives to SOX 404 for Small Cos.
As smaller public companies hold out hope that Congress will exempt them from compliance with the external auditor provision of Section 404(b) of the Sarbanes-Oxley Act, an academic paper may provide ammunition to the exemption’s supporters. A paper published by University of Texas accounting professor William Kinney and research student Marcy Shepardson suggests that there […]
Posted inFrom the Archive
Contractors Must Notify Employees of Labor Law Rights
Reminder to federal contractors: A deadline for notifying employees of their rights to unionize under federal labor laws is fast approaching. Beginning June 21, 2010, a Department of Labor rule requires federal contractors and sub-contractors to notify employees about their rights to form, join, and support a union and to bargain collectively with their employer […]
Posted inFrom the Archive
Clawback Case Against Former CSK CEO Moves Forward
A lawsuit brought by the Securities and Exchange Commission seeking to claw back pay from a former chief executive the agency isn’t accusing of wrongdoing appears set to move forward. An Arizona district court judge denied the motion to dismiss filed by Maynard Jenkins, the former chief executive of auto parts retailer CSK Auto Corp., […]
Posted inRegulatory Enforcement
Corp Fin Updates Compliance & Disclosure Interpretations
The staff of the Securities and Exchange Commission Division of Corporation Finance has updated a hodgepodge of Compliance and Disclosure Interpretations practitioners will want to check out. The June 4 interpretations update Securities Act sections, rules, and forms, Regulation S-K, Exchange Act rules and Form 8-K, and Regulation FD. Since the staff updated seven different […]
