The Securities and Exchange Commission has posted the details of its rule proposal on proxy disclosure and solicitation enhancements. The 137-page proposing release fleshes out the details of—and asks dozens of questions about—the proposals unveiled at the July 1 open meeting, as previously reported. Among other things, the proposed amendments would expand the disclosures companies […]
Melissa Klein Aguilar
Posted inFrom the Archive
Alert: Differences in DPAs and NPAs Narrowing?
While companies looking to settle allegations of criminal wrongdoing may typically consider securing a non-prosecution agreement a far better deal than getting a deferred prosecution agreement, a recent analysis suggests that the differences between the two may be narrowing, lessening the advantages of one over the other. That’s according to a review of the 10 […]
Posted inUncategorized
TCB: Action Needed to Prep for Broker Vote Change
In order to prepare for the elimination of broker votes in director elections that takes effect before the upcoming proxy season, companies should take action now, by analyzing historical shareholder trends and monitoring future extraordinary voting patterns, among other things, The Conference Board (TCB) advises. As Compliance Week reported, the SEC on July 1 approved […]
Posted inInternal Controls
New COSO Chairman Details Committee’s Goals
In the latest of our occasional conversations with compliance executives, regulators, and other voices in the governance world, Compliance Week recently caught up with David Landsittel, the new chairman of the Committee of Sponsoring Organizations. Landsittel, a long-time veteran of auditing firm Arthur Andersen, currently serves as a consultant to accounting firms and others on […]
Posted inUncategorized
SEC Moves Ahead on Disclosure Proposals
Corporate secretaries and chief legal officers should sharpen their pencils: The Securities and Exchange Commission has just proposed a raft of new disclosures it wants companies to start making. On the table are plans for yet more disclosure of executive compensation, including compensation to important non-executive employees; better disclosure of board directors’ experience and qualifications; […]
Posted inEthics & Culture
Webcast Marks Best Practices for Ethics & Compliance
Amid sinking employee morale and increasing public distrust in corporate leadership, without question maintaining an effective ethics and compliance program is more important than ever. The challenge facing many ethics and compliance professionals is how to do that with tighter budgets and fewer resources. “There’s increasing cynicism and stress in the workplace, hits to budgets […]
Posted inFrom the Archive
NYSE Seeks Lower Market-Cap. Standard
The New York Stock Exchange has extended the temporary suspension of its $1 minimum stock price and is seeking to permanently adopt a lower $15 million minimum 30-day average market capitalization standard. The NYSE has filed a rule proposal to extend the temporary suspension of the price standard by an additional month until July 31. […]
Posted inRegulatory Enforcement
SEC IG Offers Reform Ideas to Congress
The Securities and Exchange Commission’s Inspector General offered lawmakers some ideas for revamping the federal securities laws, including extending the regulatory jurisdiction of the Public Company Accounting Oversight Board and amending the Investment Advisers Act to require the use of independent custodians by investment advisers and hedge funds. The recommendations, detailed in a June 30 […]
Posted inUncategorized
SEC Approves NYSE Broker Vote Ban in Director Elections
The Securities and Exchange Commission voted 3-2 along party lines to approve the New York Stock Exchange rule amendment that effectively ends broker discretionary voting in director elections. The rule change will be effective for shareholder meetings held on or after Jan. 1, 2010. At today’s open meeting, Commissioners Elisse Walter and Luis Aguilar voted […]
Posted inFrom the Archive
Pay Trends Beyond The S&P 500: Changes Coming
While Wall Street firms and the nation’s largest companies have been the prime targets of the current scrutiny of executive compensation practices, they’re not the only ones making changes to pay practices amid the economic turmoil. An Equilar analysis of CEO compensation at 1,064 public companies with annual revenues under $1 billion found notable shifts […]
