According to executive compensation data research firm Equilar, the number of directors on a company’s board directly correlates with the size of the company. Equilar’s evaluation of 1,185 companies in the S&P 1500 found that the most common number of directors on a board is nine, while the average size of a board is slightly […]
Reese Darragh
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Study Sheds Light on Board Committee Trends Among S&P 1500
The average number of board committees among S&P 1500 companies has remained relatively stable at 4 committees per corporate board over the three-year period from 2008 to 2010, according to executive compensation data firm Equilar. “Among S&P 1500 boards, the majority of boards (68 percent) have either three or four committees (2010). The most common […]
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Beware Compliance Pitfalls When Recruiting on Social Media Sites
More companies are using social media networks to look for good job candidates, since the method is easy and cost effective, and it gives employers access to a high number of potential candidates and more insight into their personalities without actually having to meet them all. But the recruitment tools do come with some compliance […]
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CFTC Promises Better Dodd-Frank Rulemaking Schedule
Scott O’Malia, commissioner of the Commodity Futures Trading Commission is urging the agency to issue a schedule outlining the order of Dodd-Frank Act rules to be proposed and an implementation timeline for all the rules under consideration. In a statement, the commissioner said the CFTC rules have not been released in any particular order which […]
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Consumer Financial Bureau Will Not Have Chief Anytime Soon
Senate Republicans successfully erected another roadblock toward the appointment of Richard Cordray—President Obama’s nominee—as the director of the Consumer Financial Protection Bureau (CFPB). The Senate voted 53-45 this morning to reject the procedural motion to begin debate on Cordray’s confirmation as director of the CFPB. Republicans needed just 41 votes to stop the debate. Without […]
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SEC Announces National Seminar for Investment Management Firms’ Compliance Officers
Registration is now open for investment management firms’ chief compliance officers and senior personnel who wish to attend the Securities and Exchange Commission’s national seminar that focuses on ways to enhance compliance programs for investor protection. The event is scheduled to take place Jan. 31 next year at the agency’s headquarters in Washington D.C. and […]
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FDIC Approves Establishment of New Corporate Risk-Management Office
The Federal Deposit Insurance Corporation (FDIC) announced the approval of a plan to establish the Office of Corporate Risk Management to assess external and internal risks faced by the bank regulator. The plan was approved today by the FDIC board of directors. “By creating a central risk office, the FDIC is adopting a current best […]
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Bank Regulators Seek to Replace Credit Ratings References
Three federal bank regulators announced yesterday that they are seeking comment on a notice of proposed rulemaking (NPR) to scrub the reference of credit ratings and to replace the term with alternative standards of creditworthiness when evaluating a bank’s capital requirements. The latest notice will amend the market risk NPR published earlier. The three agencies […]
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Changes to ISS Policy in 2012
Proxy advisory firm Institutional Shareholder Services will be updating its methodologies used when issuing recommendations on companies’ proposals beginning Feb. 1, 2012. Companies whose proxy meetings will take place on or after that date should pay attention to these changes in the ISS assessment. Not surprisingly, the first change presented by the experts at ISS […]
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SEC Outlines Ambitious Agenda for 2012 on Dodd-Frank and Beyond
Critics have been tough on the Securities and Exchange Commission for rulemaking delays on several provisions of the Dodd-Frank Act. Now the SEC says it is ready to get the job back on track. In its Performance and Accountability Report for fiscal year 2011 released last month, the Commission confirmed that it will adopt the […]