When should companies speak up about their pay practices? Investors and corporate issuers continue to bicker over say-on-pay issues. A recent survey compiled by proxy advisory firm ISS shows that the two sides even failed to reach an agreement over when to issue an open statement on pay practices’ improvement. In a recent survey on […]
Reese Darragh
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Say-On-Pay Results: Why Investors Vote No
Pay attention board members and compensation committees! Investors said they are voting no against companies’ say-on-pay proposals because of pay and performance disconnection (92 percent), poor pay practices (57 percent), poor disclosure (35 percent), and exorbitant compensation practices that do not match company’s size, industry, and performance (16 percent). In addition, investors confirmed that they […]
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Does Business Need a Time Out From Regulation?
Businesses may get a one-year reprieve from having to comply with new regulations not enacted before Sept. 1 of this year pending the approval of the Regulatory Time-Out Act of 2011. The bill, proposed by 16 Senate members led by Senator Susan Collins, would postpone some final regulations that could potentially increase the cost of […]
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Labor Dept. Clears Path for Electronic ERISA Compliance
The Labor Department is offering a small fix for retirement plan administrators that could relieve a looming paperwork burden, giving companies more discretion to send plan materials to employees electronically. The department issued a notice earlier this month updating the process companies must use to send retirement plan materials electronically. Bottom line: Companies may send […]
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SEC Guidance Formats Continue to Proliferate
Perhaps it’s time for some guidance to help understand the various forms of guidance the Securities and Exchange Commission is publishing these days. The SEC has long published different forms of guidance to help corporate filers and the investing public understand its rules and procedures, with each guidance format carrying its own shade of formality, […]
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OSHA Updates Whistleblower Investigation Manual
The U.S. Department of Labor’s Occupational Safety and Health Administration issued an updated its internal whistleblower investigation manual this month with the latest information on case-handling procedures, new laws, and a guide to address retaliation complaints under 21 whistleblower statutes assigned to OSHA. The manual, which was last updated in 2003, includes new regulations and […]
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Board Members: Enough About Say-on-Pay
Corporate directors are tired of discussing the issue of executive compensation. In a recent survey conducted by consulting firm BDO USA in August, 71 percent of participants say they do not want to spend more time on executive compensation. The survey, which polled 101 board members from public companies with revenue ranging from $250 million […]
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Report Sparks Adjustments at the SEC’s Ethics Office
The Securities and Exchange Commission announced it is adopting new internal rules intended to avoid conflicts of interest among employees. In a statement released by Chairman Mary Schapiro early this week, she said that the agency plans to implement the recommendations proposed by its Office of the Inspector General to improve the procedures and processes […]
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SEC Proposes Rule to Hedge ABS Insider Trading
The Securities and Exchange Commission proposed a rule yesterday to ban asset-backed securities (ABS) issuers from being involved in any transactions of securities they created within a one-year period, calculated from the day the ABS was sold. The regulator said the 127B rule should help avoid any conflict of interest to ABS’ investors. According to […]
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Preparing for Health Insurance Reporting Requirements
The most onerous reporting requirements of the Patient Protection and Affordable Care Act don’t go into effect for more than a year, but that shouldn’t stop companies from getting started on complying with them now. In March, the Internal Revenue Service postponed the deadline for employers to report their spending on sponsored healthcare coverage plans […]
