The Securities and Exchange Commission is seeking public comment for an upcoming roundtable about securities lending and short sale issues. The roundtable is part of a broader effort by the SEC in recent months to address potentially abusive short-sales. The Sept. 29 discussions will focus on securities lending issues, including current lending practices and participants; […]
Melissa Klein Aguilar
Posted inBoards & Shareholders
Carpenters’ Triennial SOP Proposals Withdrawn
The United Brotherhood of Carpenters has withdrawn 18 proposals urging companies to hold triennial advisory votes on executive compensation. As originally reported by RiskMetrics Group, UBC had filed 20 proposals. Two were successfully challenged by companies at the Securities and Exchange Commission. The move follows the House of Representatives’ approval on July 30 of legislation […]
Posted inFrom the Archive
Bill Requiring Transparency Effort Testimony Passes House
Will efforts to promote transparency and reduce complexity in financial reporting get a regular time slot on the hot seat on Capitol Hill? Maybe. The House on Sept. 9 passed the Promoting Transparency in Financial Reporting Act of 2009, which would require the chairperson or a designee of the chairperson of the Securities and Exchange […]
Posted inFrom the Archive
High-Profile Call for Action to Address Short-Termism
A group of high-profile leaders from the business, investment, government, academic, and labor communities have banded together to endorse a call for action to address market short-termism and a focus by companies and investors on long-term performance. Twenty-eight signatories, including Berkshire Hathaway CEO Warren Buffett and The Vanguard Group Founder John Bogle, joined the Aspen […]
Posted inFrom the Archive
Global Integrity Survey: Compliance Today
Ethics and compliance officers searching for some outside validation that they are managing their corporate integrity efforts wisely finally have some data for comparison purposes. The 2009 Global Integrity Survey, a joint research project of Compliance Week and compliance service provider Integrity Interactive, polled more than 150 ethics and compliance executives at global companies worldwide. […]
Posted inUncategorized
Regulators Talk Cooperation, but Little Progress
Regulators from the Securities and Exchange Commission and the Commodity Futures Trading Commission got an earful last week on how they might reconcile some of the differences in their rules and approaches, and it appears they’ve got their work cut out for them. Now that a merger of the agencies is off the table politically, […]
Posted inRegulatory Enforcement
Up Next on the Hill: Improving SEC Performance
The fallout from the Madoff debacle continues, as Senate lawmakers seek input on how to improve the performance of the Securities and Exchange Commission in the aftermath of the agency’s now well-documented failure to fully examine Bernard Madoff and his firm for operating a Ponzi scheme, despite ample tips and complaints over several years. Leaders […]
Posted inFrom the Archive
NYSE Forms Commission on Study Proxy Process
On the heels of the elimination of broker voting in director elections, the New York Stock Exchange has announced the creation of an independent advisory commission to examine U.S. corporate governance and the overall proxy process. The advisory commission will be led by Larry Sonsini, chairman of the powerhouse law firm Wilson Sonsini Goodrich & […]
Posted inFrom the Archive
COSO Paper Focuses on Improved Board Risk Oversight
In response to the increased focus on the effectiveness of board risk oversight practices, the Committee of Sponsoring Organizations, known as COSO, has released a new thought paper aimed at helping boards of directors strengthen their oversight of enterprise risks. The four-page paper, The Role of the Board of Directors, is available for free download. […]
Posted inFrom the Archive
NYSE Proposes Changes to Corp. Governance Standards
The New York Stock Exchange has proposed a number of changes to its corporate governance standards under Section 303A of its listed company manual to clarify some disclosure requirements, codify some interpretations since the rules were enacted, and replace certain disclosure requirements of Regulation S-K. If approved, the changes will take effect January 2010. Among […]
