The Securities and Exchange Commission has been happy to put off rulemaking on new compensation disclosures required by the Dodd-Frank Act, partly because Congress didn’t include deadlines in the law. But according to the SEC, new rules aren’t far off. Despite wiggle room in the Dodd-Frank Act that allows the agency more time to adopt […]
Reese Darragh
Posted inFrom the Archive
Early Release of SEC Filing Review Correspondence
The Securities and Exchange Commission announced that it will cut the time it takes to release all correspondence relating to reviews of fillings by the Divisions of Corporation Finance (Corp Fin) beginning Jan. 1 next year. In a statement released by the division, it said the staff will release filing review correspondence no earlier than […]
Posted inFrom the Archive
Deloitte: Compliance Programs Under Volcker Rule Requirements
Banking entities that will be required to conform to the upcoming Volcker Rule should start focusing on the existing compliance programs and procedures they already have in place to set the tone for the tiered programmatic compliance regime that will be mandated by the rule later, say regulatory compliance experts at Deloitte & Touche. They […]
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OCC Proposes to Scrub Credit Ratings From Banking Regulations
The Office of the Comptroller of the Currency (OCC) issued a proposal this week that would scrub references to credit ratings from its regulations, as required by the Dodd-Frank Act. In effect, the rule would end the practice of banks relying on credit ratings to determine the risk of default for underlying loans before issuing […]
Posted inRegulatory Enforcement
Compliance 101: Wage & Hour Risk
Yes, yes—your company might some day be caught up in a sweeping regulatory enforcement case, some nine-figure settlement over the Foreign Corrupt Practices Act or off-label marketing of drugs or lord knows what. It happens. But so do the basic, block-and-tackle compliance threats far more likely to leave a company fighting a rear-guard action against […]
Posted inRegulatory Enforcement
Whistleblower Complaints Speak Volumes
In the seven weeks from Aug. 12, when the Securities and Exchange Commission launched its new whistleblower rewards program, until the end of the SEC’s fiscal year on Sept. 30, the agency received 334 tips and complaints—an average of 6.68 tips per day alleging some sort of corporate misconduct. Now comes the maddening part of […]
Posted inUncategorized
Winter of Dodd-Frank Delays
Think the Dodd-Frank Act has been a burden on your compliance program so far? Just look at the Securities and Exchange Commission’s rulemaking calendar for the next few months and see what’s coming next. Reams of Dodd-Frank rules still need to be written, nearly 18 months after Washington enacted the landmark law. The SEC postponed […]
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SEC: More Comp Rules in 2012
The Securities and Exchange Commission is promising to adopt more rules around executive compensation in 2012, despite some wiggle room in the Dodd-Frank Act that allows the agency more time. According to a recent statement from the Securities and Exchange Commission in its fiscal year 2011 performance report, the agency intends to complete additional rules […]
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Bill Calls for Fair Treatment for Banks During Examinations
A group of Congressional members recently submitted a bill to be passed at the federal level, asking financial regulators to treat banks fairly during their examination process. The bill was introduced to address concerns from banks regarding the increase in regulatory compliance issues and the fairness of the examination process after the financial crisis. Title, […]
Posted inBoards & Shareholders
What to Expect: Preparing for the 2012 Proxy Season
While companies are making preparations for the year-end close, governance experts and proxy advisers are already looking ahead to the 2012 proxy season. Now is the time, they say, to address issues and concerns that shareholders are likely to contest with proposals and resolutions in the coming year. At the top of that list is […]