The Securities and Exchange Commission is seeking public comment to establish an efficient process it should adopt in conducting reviews on existing regulations. In an announcement today, the regulator said it is seeking public opinion on the frequency of rule reviews it should undertake, factors to consider when conducting the reviews, and methods to improve […]
Reese Darragh
Posted inFrom the Archive
FINRA’s New Procedures in Handling Legal Matters
The Financial Industry Regulatory Authority has proposed to change the Code of Procedure at the agency to allow staff members to handle legal matters more efficiently, while eliminating duplications. The proposal was filed with the Securities and Exchange Commission on Aug. 30. In the detailed proposal, the agency seeks to change some of its procedures, […]
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Coming Soon: California’s Law on Supply Chain Transparency
The State of California’s law to require disclosure by large manufacturers and retailers of their efforts to abolish slavery and human trafficking in their supply chain will come into effect in the next five months. The statewide law, California Transparency in Supply Chains Act, was approved back in October 2010. The law requires all apparel […]
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2011 Shareholder Meeting Trends: Less Elaborate, Shorter Duration
A recent report from BNY Mellon Shareowner Services shows that shareholder meetings in the last proxy season are getting shorter and less elaborate, a trend it first noticed in 2010. Based on its observations from 500 client meetings in the last season, the firm found more than 94 percent of their clients held their shareholder meetings in company […]
Posted inRegulatory Enforcement
Court Ruling Could Limit SOX Whistleblower Retaliation Claims
A recent district court’s decision may provide some relief for companies that fear they will be accused of retaliating against whistleblowers. A ruling by the Court for the Eastern District of Pennsylvania earlier this month sets a higher standard for employees to claim whistleblower protection under the anti-retaliation provision of the Sarbanes-Oxley Act of 2002 […]
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More Legal Challenges to Dodd-Frank Could Be in the Works
Emboldened by its legal victory over the Security and Exchange Commission’s shareholder proxy access rule, the U.S. Chamber of Commerce is gearing up to contest other upcoming Dodd-Frank Act rules. The business lobbying group will launch legal challenges of other Dodd-Frank provisions if the SEC continues to produce insufficient economic analyses of these rules, says […]
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FINRA Clarifies Rules on Social Media Use
The Financial Industry Regulatory Authority (FINRA) has issued further guidance to explain its earlier published rules, Notice 10-06, addressing questions from financial companies on the usage of social media networks to promote businesses, as well as employees’ use of those Websites. In the 8-page release, the agency further elaborates on issues it highlighted in a previous […]
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FSB Seeks Comment on Systemically Important Financial Institutions
The Financial Stability Board (FSB)’s invite for comment on the effective resolution of Systemically Important Financial Institutions (SIFI) will expire on Sept 2. In July, the agency had published the consultative document to seek opinions from affected financial institutions in dealing with the termination of their business activities in the event of bankruptcy. As outlined […]
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S&P: Safety Measures Can Help Boost Companies’ Credit Ratings
Mitigating disaster risks and beefing up safety measures can help companies score points with credit rating agency Standard & Poor’s. According to the handbook published by the rating agency, it said although safety is not one of the determinants in the actual credit rating measures, having the appropriate program in place counts. “We believe that […]
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House Bill Would Require Whistleblowers to Report Internally First
The Dodd-Frank Act is under fire in Congress again. A new bill introduced in the House Committees on Financial Services and Agriculture by a group of Republicans intent on making changes to the whistleblower rule adopted by the Securities and Exchange Commission in May seeks to make the rule more business friendly. The bill, coined […]