The Securities and Exchange Commission should take steps to better ensure compliance with Regulation D, to act when it finds non-compliance, and should make better use of Form D information. That’s according to a March 31 report by the SEC’s Office of Inspector General, which reviewed Corporation Finance’s process for assessing whether companies appropriately use […]
Melissa Klein Aguilar
Posted inFrom the Archive
NAIC Climate Risk Disclosures for Large Insurers
Heads up: Some large insurers now have to disclose to regulators the financial risks they face from climate change and their strategies for addressing those risks under a mandate from the National Association of Insurance Commissioners. A March 31 Goodwin Procter alert notes that the NAIC has adopted a mandatory requirement for all insurance companies […]
Posted inFrom the Archive
Study: Little Evidence of Cherry-Picking Comp Peer Groups
While the use and selection of peer groups in setting executive pay has come under fire as the spotlight on compensation has intensified, criticisms that firms cherry-pick peers with higher pay or economic traits related to higher pay to justify boosting compensation may be unfounded, according to a recent academic study. The study, Compensation Peer […]
Posted inAccounting & Auditing
Cross-Border Withholding Compliance Crackdown
A government effort to crack down on withholding taxes for overseas employees could cause major compliance headaches for U.S. companies that make payments to certain non-citizens. The Internal Revenue Service formally designated cross-border withholding as a Tier 1 audit issue (a label the IRS applies to high priorities) in December. That typically signals a serious […]
Posted inBoards & Shareholders
Mixed Views Remain on Broker Voting Reform
Deep differences of opinions still exist over the idea of abolishing broker-dealers’ power to vote in elections for corporate board directors, despite a revived push by the New York Stock Exchange to end the practice once and for all. NYSE has tried for more than two years to end “broker voting,” where broker-dealers can vote […]
Posted inRegulatory Enforcement
Schapiro Seeks Legislation, Details Rule Proposals
In a bid before Congress to maintain the SEC’s capital markets regulator and investor protection roles in any regulatory reform, Securities and Exchange Commission Chairman Mary Schapiro also detailed plans to seek legislation from Congress to expand the agency’s powers and rule proposals it will consider in the coming weeks to strengthen its own rules. […]
Posted inRegulatory Enforcement
Cross-Border Withholding Compliance Crackdown
Is your firm ready for a government effort to crackdown on cross-border withholding non-compliance? Probably not, according to experts, and that could mean major compliance headaches, not to mention stiff penalties. Observers say a number of recent developments signal that the government is ramping up enforcement related to the Section 1441 withholding regulations, an area […]
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Recovery Act Model COBRA Notices Posted
The Department Of Labor has published four model notices for group health plans to notify certain current and former employees and beneficiaries about health care continuation coverage and premium reductions as required by the American Recovery and Reinvestment Act of 2009. Group health plans subject to the Consolidated Omnibus Budget Reconciliation Act [COBRA] continuation provisions […]
Posted inFrom the Archive
Nasdaq Proposes Extending Suspension of Listing Reqs
Nasdaq has filed a proposed rule change to extend by three months its temporary suspension of its continued listing requirements related to bid price and market value of publicly held shares for listing on the Nasdaq Stock Market. The suspension, which would’ve expired on April 19, will now expire July 19. The proposed rule filing […]
Posted inUncategorized
Congress Wrestles With Systemic Risk Regulator
The House Financial Services Committee last week held the first of what will inevitably be many hearings to define exactly what a systemic risk to the financial system is, and how regulators should police against it. Committee Chairman Barney Frank (D-Mass.) said he hopes that by early May Congress can start the “lengthy process” of […]
