It’s that time of year again: RiskMetrics Group has announced the kick-off of its 2010 policy formulation process with the opening of its proxy policy voting survey. The survey is part of RMG’s annual process to gather input from its institutional investor clients and industry constituents on the governance issues that are likely to dominate […]
Melissa Klein Aguilar
Posted inRegulatory Enforcement
Congress Prods SEC IG to Issue Madoff Findings
The Securities and Exchange Commission’s independent watchdog soon plans to issue three reports related to its investigation into allegations regarding Bernard Madoff and his firm, Bernard L. Madoff Investment Securities—but apparently not soon enough for some members of Congress. In response to prodding by House lawmakers, the SEC’s Inspector General said the agency will “very […]
Posted inRegulatory Enforcement
Lowdown on Corporate Charging Decisions
Nobody ever wants to end up sitting across the table from federal prosecutors. But if the worst happens, here’s what compliance officers and corporate counselors need to know about how charging decisions are made when corporate wrongdoing occurs, straight from current and former law enforcement officials. Current and former federal prosecutors speaking at Compliance Week’s […]
Posted inTechnology
Required Reading for the XBRL Mandate
Corporate compliance officers who don’t already know the Securities and Exchange Commission’s adopting release for its XBRL mandate—and know it well—ought to put it on their summer reading list. That was the advice of SEC officials during a recent public seminar aimed at helping issuers prepare to comply with the new rule that requires them […]
Posted inFrom the Archive
Court Ruling Both a Victory and Warning for Cos.
A recent Circuit Court ruling on a retaliation claim may be viewed as a victory for employers, but it also serves as a warning for companies to tighten up their anti-retaliation training and policies, according to one employment law expert. Reversing an earlier position, a federal appeals court ruled this month that Title VII of […]
Posted inBoards & Shareholders
Governance Reform Legislation Hits the House
Rep. Gary Peters (R-Mich.) introduced legislation June 12 that would implement the Obama administration’s call for a Say-on-Pay and SEC rule changes to tighten the independence requirements for compensation committees, along with a slew of other governance reforms that have been kicking around. In addition to providing for an annual advisory shareowner vote on senior […]
Posted inRegulatory Enforcement
Exec Comp Reform Debate Picks Up Steam
The national debate on executive compensation reform picked up steam this week, as the Treasury Department laid out its principles for compensation reform, unveiled its Interim Final Rule on the compensation and corporate governance standards that apply for TARP recipients, and appointed Kenneth Feinberg as Special Master for TARP Executive Compensation (aka the Pay Czar). […]
Posted inBoards & Shareholders
Proxy Access Proposal Posted, Let the Comments Begin
The Securities and Exchange Commission has posted the text of its proposal to amend to its proxy rules to require companies, in certain cases, to include in their proxy materials shareholder director nominees who meet specified requirements. The 250-page proposing release seeks comment on more than 170 questions. Comments are due 60 days after publication […]
Posted inFrom the Archive
Companies Await New Disclosure Proposals
Corporate disclosure departments may be gearing up for even more work, with proposals due in the coming weeks that will require more information about how companies pay employees, among other things. In testimony before a Senate sub-committee June 2, SEC Chairman Mary Schapiro repeated her promise for a broad package of corporate disclosure improvements aimed […]
Posted inEthics & Culture
Whistleblower Policy a Necessity During Weak Economy
Tips, strategies, and frustrations about how to manage compliance programs more effectively were the dominant theme at Compliance Week 2009, as corporate compliance officers everywhere voiced concerns about the increasing risks their departments must manage—with ever-tighter budgets. The bad economy is a risk in its own right, according to Cynthia Jackson, a partner in the […]
