Despite the tough economic environment, most companies haven’t abandoned earnings guidance, but some have made tweaks to how they provide that guidance, according to a study by the National Investor Relations Institute. Among 515 public company NIRI members surveyed in April, 60 percent say their company provides earnings guidance (earnings per share). That’s compared to […]
Melissa Klein Aguilar
Posted inRegulatory Enforcement
FERA Signed Into Law
The President has signed the Fraud Enforcement and Recovery Act into law, giving the federal government more tools to crack down on corporate and mortgage fraud. As Compliance Week reported, FERA bolsters the funding and tools available to law enforcement agencies, including the Federal Bureau of Investigation, the Justice Department, and the Securities and Exchange […]
Posted inBoards & Shareholders
SEC Votes 3-2 to Publish Access Proposal
Securities and Exchange Commission officials at today’s open meeting voted 3-2 to publish for comment amendments to its proxy rules that would enable shareholders to have their director nominees included on corporate proxies and allow them to submit proposals about nomination, procedural, or disclosure matters. Commissioners Elisse Walter and Luis Aguilar voted along with chairman […]
Posted inRisk Management
Shareholder Bill of Rights Act Introduced
The highly anticipated Shareholder Bill of Rights Act of 2009 has reportedly been introduced in the Senate today and press releases opposing and supporting the legislation are already flying. As Compliance Week has reported, the bill, sponsored by New York Democrat Charles Schumer, would, if passed, require companies to: Provide an annual non-binding shareholder vote […]
Posted inFrom the Archive
SEC Holds Seminar on XBRL Reporting Requirements
For those who still aren’t ready for the XBRL reporting mandate, the Securities and Exchange Commission has announced a public seminar on June 10 to help companies and preparers comply with new rules that require financial reports to be filed using XBRL. The Commission staff will present information about the technology requirements for complying with […]
Posted inUncategorized
First New Fraud Law: More Money, More Commissions
Congress has taken the first step in its plans to reform corporate governance and crack down on abuses and fraud in Corporate America. Lawmakers are poised to pass the Fraud Enforcement and Recovery Act, which will bolster the funding and tools available to law enforcement officials to prosecute corporate and other frauds. The House and […]
Posted inRegulatory Enforcement
Changes to NYSE Immediate Release Policy in Effect
Reminder to NYSE-listed companies: Recent changes to the Exchange’s immediate release policy are now in effect. Changes to NYSE Rule 202.06 allow companies to disseminate material information by any Regulation Fair Disclosure-compliant method to comply with the immediate release policy, rather than always requiring companies to issue a press release as previously required. The amended […]
Posted inRegulatory Enforcement
SEC Fines Investment Adviser for Proxy Voting Violations
In a first-of-its kind enforcement action, the Securities and Exchange Commission fined an investment adviser and one of its former executives for a proxy voting rule violation. Without admitting or denying the SEC’s findings, West Palm Beach, Fla.-based Intech Investment Management and its former chief operating officer David E. Hurley agreed to pay penalties of […]
Posted inBoards & Shareholders
Proxy Access on SEC Agenda for May 20
The debate over shareholder access to the proxy is on again, with the issue officially on the Securities and Exchange Commission’s agenda this month, as expected. According to a May 12 Sunshine Act Notice the SEC has slated an open meeting on May 20 to consider whether to propose changes to the federal proxy rules […]
Posted inInternal Controls
Easton-Bell Chief Ethics Officer on SOX Compliance
In the latest of our occasional conversations with chief compliance and governance officers, we catch up with Elliot Fisch, director of internal audit and chief ethics officer at sports equipment maker Easton-Bell Sports. Fisch joined the non-accelerated filer specifically to help the company through its first Section 404 audits under the Sarbanes-Oxley Act; excerpts of […]
