A new report from the Institute of Internal Auditors says compliance with credit-card security standards is still sputtering, despite a coordinated push to bring retailers and merchant banks into compliance with the Payment Card Industry Data Security Standard. The recent survey of internal auditors, “Moving Toward PCI Compliance,” indicates that only 56 percent of companies […]
Melissa Klein Aguilar
Posted inFrom the Archive
Nasdaq Extends Suspension Of Listing Reqs
The Nasdaq has filed a proposed rule change with the Securities and Exchange Commission to extend its temporary suspension of the Nasdaq Stock Market continued listing requirements related to bid price and market value of publicly held shares. The proposal extends the temporary suspension, which would’ve expired July 19, until July 31. The suspension, aimed […]
Posted inEthics & Culture
Best Buy Ethics Chief on Living the Values
In the latest of our conversations with players in the corporate governance and compliance field, we catch up with Kathleen Edmond, chief ethics officer at retail giant Best Buy. Readers can also visit our archive of Q&A interviews. DETAILS Edmond As chief ethics officer for Best Buy, Kathleen Edmond develops and directs global vision for […]
Posted inUncategorized
Preparing Now for SEC Disclosure Changes
Compliance officers, corporate secretaries, and other governance executives pondering the 2010 proxy season have some potent new variables to consider: the Securities and Exchange Commission’s proposals to overall proxy disclosure and solicitations. A 137-page proposing release, unveiled July 10, presents all the details of the proposals SEC commissioners endorsed by a 3-2 vote at a […]
Posted inUncategorized
Proposal Could Facilitate Activist Solicitations
One sleeper item that might be of interest to companies and shareholder activists in the Securities and Exchange Commission’s proposing release for its proxy disclosure and solicitation enhancements: An amendment that observers say could potentially facilitate activists’ solicitation activities. The proposed amendment, which is part of a broad package of reforms proposed at the SEC’s […]
Posted inRegulatory Enforcement
Investor Group Offers Views on Reg Reforms
A high-profile group of investors, led by two former Securities and Exchange Commission chairmen, has published its own views on how best to reform regulation of the U.S. financial markets, which include calling for the creation of an independent Systemic Risk Oversight Board. The Investors’ Working Group, sponsored by the CFA Institute Center for Financial […]
Posted inFrom the Archive
Sharp Reminder on Anti-Corruption Due Diligence
The recent conviction of Connecticut investor and Dooney & Bourke co-founder Frederic Bourke in a scheme to bribe government officials in Azerbaijan should serve as a sharp reminder of the importance of conducting thorough due diligence on a potential investment or target, experts advise. Following a six-week jury trial in Manhattan federal court, Bourke was […]
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Justice Dept. Settlements Under Scrutiny Again
Deferred-prosecution agreements, rapidly becoming the standard tool federal prosecutors use to settle corporate investigations, are back in the news again. The DPA and its close cousin, the non-prosecution agreement, was the subject of a Congressional hearing last month exploring legislation that would bring more uniformity to how the Justice Department uses such deals. A new […]
Posted inUncategorized
What SEC Disclosure Reforms Mean to You
Corporate secretaries, compliance officers, and other governance executives have a new item to put on their summer reading list: The Securities and Exchange Commission’s proposals for extensive new corporate disclosure. The SEC unveiled a flurry of ideas on July 1, covering everything from more detail about executive compensation and risk management to faster reporting of […]
Posted inFrom the Archive
California Adopts e-discovery Rules
California has joined the fray of states adopting rules governing the discovery of electronically stored information in its courts. California’s Electronic Discovery Act, which establishes procedures to govern the discovery of ESI in California state courts, was signed into law by Governor Schwarzenegger on June 29. The California Act, which largely tracks the 2006 amendments […]
