The Securities and Exchange Commission should forge ahead on important governance issues, such as proxy access and say on pay, rather than tabling them while it deals with the financial crisis, according to at least one of its commissioners. “I have heard rumblings that this is not the time to divert our focus from the […]
Melissa Klein Aguilar
Posted inFrom the Archive
Cos. Mull Strict Stimulus Provisions, Await Guidance
Corporate America and its advisers are abuzz about the tough new pay limits imposed on companies that take government money under the Troubled Asset Relief Program as part of the Stimulus Act signed into law this week. Just weeks after the Treasury issued its executive pay limits for the second round of TARP, Congress struck […]
Posted inFrom the Archive
Treasury Limits on Exec Pay Rattle TARP Cos.
A flurry of new restrictions on executive pay for companies taking government bailout money are raising questions about how far efforts to overhaul compensation will go, and about what new compliance burdens are waiting in the wings. The Treasury Department unveiled a broad set of compensation rules with much fanfare on Feb. 4, and more […]
Posted inData Privacy
Roundtable Discusses Supply Chain Risks
On Jan. 27, 2009, Compliance Week and Integrity Interactive presented an editorial roundtable focusing on supply chain risks—both inside and outside of the organization. The discussion, which took place at The Harvard Club in New York, involved more than 20 compliance and legal professionals, who provided insights into today’s largest supply chain risks (think peanut […]
Posted inData Privacy
Heads Up: Mass. Eases & Delays Data Security Regs Again
Welcome news for companies that maintain personal information of Massachusetts residents: The state’s Office of Consumer Affairs and Business Regulation has once again eased and delayed new identity theft regulations that require companies to encrypt personal information stored on portable devices or transmitted wirelessly or on public networks. The latest delay, announced Feb. 12, gives […]
Posted inRegulatory Enforcement
Report Details Recommendations for SEC Overhaul
As the broader debate on financial services regulatory reform rages on, the U.S. Chamber of Commerce has put in its two cents’ worth on how to overhaul the Securities and Exchange Commission. A report released by the Chamber’s Center for Capital Markets Competitiveness details 23 recommendations for revamping the SEC. Seven of the recommendations relate […]
Posted inRegulatory Enforcement
Former SEC Chairs Focus on Market Regulation Reform
The Council of Institutional Investors and the CFA Institute Centre for Financial Market Integrity have teamed up to form a working group aimed at giving investors a seat at the table in the debate over how to fix the U.S. regulatory system. The independent panel will focus on investor considerations. Dubbed the Investors’ Working Group, […]
Posted inTechnology
Final XBRL Rule Starts New Compliance Push
The Securities and Exchange Commission has finally delivered its mandate—all 206 pages of it—that corporations start filing financial statements using XBRL technology. Published on Jan. 30, the adopting release still follows the schedule SEC commissioners approved in December: The 500 largest public companies must start XBRL compliance this summer, followed by other large filers in […]
Posted inInternal Controls
How to Use the COSO Monitoring Guidance
Long-awaited guidance on how to monitor internal controls has finally arrived and could mean less year-end work for companies attesting to the effectiveness of their internal control over financial reporting. Published by The Committee of Sponsoring Organizations of the Treadway Commission, or COSO, the guidance is intended to help make internal controls more efficient and […]
Posted inRegulatory Enforcement
Enforcement Director Chatman Thomsen to Leave SEC
Just days after the Securities and Exchange Commission’s new chairman announced moves to shake things up in the agency’s enforcement division, the SEC announced the departure of director Linda Chatman Thomsen. An SEC press release said Thomsen plans to return to the private sector. While no offical announcement has been made about her replacement, press […]
