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Last month’s fifth anniversary of the landmark Sarbanes-Oxley Act spurred a flurry of discussion in both business and political circles about that legislation’s effect on business practices, as well as its success in curtailing the kinds of abuses that brought down Enron, WorldCom, and other giants early in this decade. Much of the discussion drew […]

The Securities and Exchange Commission staff have begun their promised review of 2007 proxy filings, to see whether companies’ Compensation Discussion & Analysis statements measure up to the new compensation disclosure rules that went into effect this year. That’s according to the SEC Regulations Committee of the Center for Audit Quality, which met with the […]

The Securities and Exchange Commission has a lot of questions about embracing international accounting rules, but they all come down to this: Are two sets of standards better than one? Last week, the SEC published for comment a concept release on whether U.S. companies should be allowed to file financial statements according to International Financial […]

The Securities and Exchange Commission has a lot of questions about embracing international accounting rules, but they all come down to this: Are two sets of standards better than one? Last week, the SEC published for comment a concept release on whether U.S. companies should be allowed to file financial statements according to International Financial […]

Pressure is on the Securities and Exchange Commission to craft a final rule governing the contentious issue of shareholder access to the proxy. Based on early reactions to the contradictory proposals floated last month, the SEC staff has its work cut out for it. With the ink barely dry on the proposing releases—one allowing certain […]

An advisory committee tasked with recommending ways to improve the U.S. financial reporting system and to reduce unnecessary complexity for companies faced its first challenge at its inaugural meeting: deciding which of the myriad financial reporting issues it can reasonably tackle in a year. That’s how long the 17-member panel, which met for the first […]

The Securities and Exchange Commission has posted the 72-page adopting release for its mandatory e-proxy rule, Shareholder Choice Regarding Proxy Materials, which takes effect for the largest companies next year. The rule, which lets shareholders choose the way they access proxy materials, requires issuers and other soliciting persons to post proxy materials online and provide […]

In a move that could eventually lead to a radical policy change, the Securities and Exchange Commission took another step toward the acceptance of International Financial Reporting Standards, voting to issue a concept release seeking input on allowing U.S. issuers the option of preparing their financial statements in accordance with IFRS. The move was promised […]

In an unusual move, the Securities and Exchange Commission unveiled two competing proposals for its proxy rules governing shareholder proposals and shareholders’ ability to propose bylaw procedures for the nomination of directors. As it has in the past, the thorny issue again has the SEC commissioners split along party lines, with its Republican chairman, Christopher […]

The SEC’s “e-proxy” rules, which took effect July 1, 2007, have many companies wondering what they need to do now.