Lockheed Martin Corp. joined the list of companies surveying its stockholders to get feedback on executive compensation practices. A Lockheed press release says the survey results will be reviewed by the board’s management development & compensation committee. The survey, which includes a link to Lockheed’s 2009 proxy statement, is open to stockholders through Dec. 20, […]
Melissa Klein Aguilar
Posted inFrom the Archive
Study Says F100 Cutting Some Perks, Increasing Others
With the spotlight shining ever brighter on executive pay amid the increasing push for reforms, some companies have been amending their compensation programs to cut perks that irk investors, but not all perks are going away, according to an analysis of benefits and perquisites among Fortune 100 companies by research firm Equilar. While cutbacks to […]
Posted inRisk Management
Report: Risk-Management Overhaul Needed
While the financial crisis has made risk management a hot topic in boardrooms and C-suites, most corporate executives say they need to overhaul their risk-management approach, according to results of a study by Accenture. A survey of 260 chief financial officers, chief risk officers, and other risk executives found that only about half of those […]
Posted inRegulatory Enforcement
Lessons From Latest FCPA Conviction
The Foreign Corrupt Practices Act recently came into stark relief again, this time in the form of a criminal trial and conviction—a relatively rare thing in FCPA enforcement—that underscored the importance of due diligence. Frederic Bourke, co-founder of the firm Dooney & Bourke (a maker of handbags and other accessories), was convicted by a federal […]
Posted inRegulatory Enforcement
Report: Good Compliance Effort Counts for Little
A new study of regulatory enforcement actions shows that there is little evidence to support the conventional wisdom that strong, effective corporate compliance programs help companies secure better treatment when under investigation. Published by the Conference Board, the report says the government has no clear, easily understood framework to explain how it awards credit for […]
Posted inRegulatory Enforcement
Comp Bill Passed, Poll Reveals Cos. Unprepared for SOP
The House of Representatives in a 237-185 vote approved a bill that would give shareholders of public companies annual advisory votes on executive compensation and requires regulators to set disclosure requirements and incentive-based compensation standards for financial institutions with more than $1B in assets The bill, H.R. 3269, the Corporate and Financial Institution Compensation Fairness […]
Posted inRegulatory Enforcement
FTC Delays Red Flags Enforcement Until Nov. 1
Good news for those still confused about whether they’re covered by an anti-fraud rule that requires creditors to implement written Identity Theft Prevention Program: The Federal Trade Commission announced a further three-month delay of enforcement of the so-called Red Flags Rule until Nov. 1. A July 29 FTC press release announcing the delay notes that […]
Posted inRegulatory Enforcement
Comp Reform Bill Passes Key House Committee
Congress’s push to overhaul financial services regulation has picked up speed with passage by a key committee of a bill that would reform financial institutions’ executive pay practices. The House Financial Services Committee voted 40-28 on Tuesday to approve H.R. 3269, the Corporate and Financial Institution Compensation Fairness Act, which would, among other things, give […]
Posted inFrom the Archive
S&P Report on Integrating ERM Into Ratings
Standard & Poor’s Ratings Services has issued a progress report on its effort to incorporate enterprise risk management assessments into its ratings of non-financial corporations. S&P’s credit analysts have been including specific ERM discussions in their regular meetings with the companies that they rate since the third quarter of 2008, focusing on risk-management culture and […]
Posted inAccounting & Auditing
Financial Crisis Inquiry Commission Members Named
Congressional leaders have tapped former California State Treasurer Phil Angelides as chairman of the 10-member Financial Crisis Inquiry Commission tasked with examining the domestic and global causes of the financial crisis. Angelides served as California State Treasurer from 1999 to 2007. As required under the Fraud Enforcement and Recovery Act, the statute that created it, […]
