As Congressional lawmakers continue political maneuvering on the sweeping legislation to overhaul U.S. financial services regulation in the aftermath of the financial crisis, the independent panel investigating the causes of the crisis is setting its sights on sub-prime lending, securitization, and government-sponsored enterprises. Representatives from the Board of Governors of the Federal Reserve System, the […]
Melissa Klein Aguilar
Posted inFrom the Archive
Report Eyes Corporate Jet Use Among Russell 3000
Despite the recession, corporate jet expenses at companies offering the perk increased and incidence levels have held steady, according to an analysis of more than 2,500 Russell 3000 companies by The Corporate Library. Median expenses related to chief executives’ personal use of corporate aircraft increased more than 9 percent, to $80,368, according to the report, […]
Posted inRegulatory Enforcement
OECD Anti-Bribery Guide as Path to FCPA Compliance
The compliance community is perking up to new anti-bribery guidance recently published by the Organization for Economic Co-operation and Development that could serve as a blueprint for stronger compliance with the U.S. Foreign Corrupt Practices Act. The document, “Good Practice Guidance on Internal Controls, Ethics, and Compliance,” was published in March and lists numerous steps […]
Posted inTechnology
Another Round of XBRL Guidance From SEC
Companies coming under the Securities and Exchange Commission’s rule to submit financial statements tagged using XBRL technology got another round of advice from SEC officials recently to help them with that endeavor. As some 1,200 accelerated filers prepare to submit and post financials tagged in eXtensible Business Reporting Language, or XBRL, for the first time […]
Posted inBoards & Shareholders
CalPERS Presses Cos. on Majority Vote Standard
The California Public Employees’ Retirement System is pressing more than four dozen companies to adopt a majority vote standard in uncontested director elections. The pension giant is asking 58 U.S. companies in its portfolio to voluntarily adopt the standard, which requires unopposed Board candidates to be elected by a majority instead of plurality vote. Under […]
Posted inFrom the Archive
Report Shows CEO Club Membership Benefits Hold Steady
The sunlight of disclosure and heightened public outrage over excessive pay amid the financial crisis has seen some perks fall by the wayside. However, club memberships don’t appear to be one of them. Among more than 3,000 U.S. public companies studied, 382 had chief executives who received club membership fee benefits in 2008/2009, up slightly […]
Posted inData Privacy
Two Reviews of GRC Software Implementations
Plenty of companies still use Microsoft software or homegrown IT solutions to manage their governance, risk, and compliance efforts, but a respectable fraction have also tried to implement dedicated, enterprise-wide GRC software systems to consolidate the management of multiple regulatory compliance burdens under one IT roof. Compliance Week recently spoke with executives at two companies […]
Posted inUncategorized
Proposals for Sentencing Guidelines Win Mostly Praise
Proposed changes to the U.S. Sentencing Guidelines, guidelines widely viewed as the de facto blueprint for corporate ethics and compliance programs, are drawing mixed reviews from the compliance community. The guidelines, which explain the elements that constitute an “effective” compliance program, are closely watched by corporate compliance officers and integrated into compliance programs as much […]
Posted inInternal Controls
SOX Clock Ticking, Senate Financial Reform Bill Advances
A key Senate committee has passed sweeping financial reform legislation, advancing the Dodd regulatory bill for consideration by the full Senate, moving lawmakers a small step forward in their effort to overhaul the U.S. regulatory system. The Senate Banking Committee on Monday evening voted 13-10 along party lines to approve the controversial reform bill put […]
Posted inFrom the Archive
Report Details Bonus Payouts and Design Trends
While early proxy filings trickling show bonuses paid to most chief executives were lower in 2009, they also show many companies are tinkering with their performance goals and incentive plan design in 2010. The changes are being driven by public pressure on executive pay and an uncertain climate that’s making it difficult to set performance […]
