All Rules & Proposals articles – Page 7
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Article
OECD Updates Views on Governance
The OECD has received an earful about proposed revisions to its principles of corporate governance, guidelines it encourages countries to adopt much the way they already follow its principles for anti-corruption. Some say the revisions dwell too much on company-level reforms, and not enough at the country-level to allow flexible ...
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Focus on Equity Pay Plans This Proxy Season
Image: Worry over say-on-pay votes is out this proxy season; all the cool kids will be stressing over equity compensation plans instead. Proxy advisory firms are promising new levels of scrutiny for equity plans. “Companies have to be flexible because there are so many more moving parts to the methodology,” ...
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Article
Why Wait for SEC? The DIY Disclosure Review
While companies await results of the SEC’s ongoing review of its disclosure regime (hint: do not hold breath), they can just as well try the same at home. Creating a disclosure committee, cutting redundancy in 10-K risk factors and MD&A sections, spotlighting material information, and using charts and graphs are ...
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FTC, FDA Take Closer Look at Disclosures
The Federal Trade Commission is cracking down on companies with questionable advertising disclosures. The Food and Drug Administration, meanwhile, may allow shorter lists of side effects in drug and medical device ads, even as it prepares tougher standards for how these companies use online advertising and social media. The focus ...
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Blog
EU Insurance Sector Ramping Up to Meet New Regime
Image: Jan. 14—Insurers are finally preparing to meet solvency requirements passed nearly six years ago. Member states have until the end of March to transpose the Solvency II Directive into national law, with insurers starting to seek approval in April for their models used to calculate capital requirements. A recent ...
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Article
Preparing for Pay Rules, Privacy, and a New Congress
The SEC is likely to spend 2015 churning through as much rulemaking for the Dodd-Frank Act as it can, never mind being years behind schedule on that front. To complicate matters for the agency, Congress is also likely to try repealing some parts of the law even before the SEC ...
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Article
Britain Braces for New Supervisory Regime
Image: British Banks are bracing for “incredible pressure” in 2015 as they implement new rules to make senior executives personally accountable to regulators. Compliance functions will help lead the creation of the new Senior Managers Regime, complete with certification overload. “Regulators will expect compliance in the spirit of the regulations, ...
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Article
Maturing Conflict Minerals Programs in Year 2
Image: Now that everyone has closed their Excel files on the first year of conflict minerals compliance, companies are pushing toward greater automation in Year 2. Reducing lines of data about smelters in your supply chain is one step, improving data integrity another. “Technology can help you understand the supply ...
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Article
Companies Face New Twists in Shareholder Proposals
What the SEC giveth, the courts may taketh away—a point made clear lately by two conflicting messages for companies seeking to keep shareholder proposals off the proxy statement. At the SEC, a victory for Whole Foods suggests the agency might be more business-friendly in granting no-action letters this coming proxy ...
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Article
In 2015, ACA Compliance Will Be an Even Greater Challenge
Image: The Affordable Care Act may be a familiar headache for corporate compliance officers, but even the best-prepared companies can expect fresh pain in 2015. “There are going to be many that find themselves in at least technical non-compliance,” says John Haslinger of ADP. “They thought they understood it, but ...
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Article
Seasonal Employees Can Bring Not-So-Merry Risks
Image: For any company that depends on seasonal workers, don’t overlook the need to give that group compliance training. Even temporary workers need to review the Code of Conduct and have access to the reporting hotline. “There are no exemptions in what constitutes an effective compliance program ... for short-term ...
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Article
Why Anti-Money Laundering Programs Aren’t Just for Banks Anymore
Image: After years of hunting money launderers by scrutinizing transaction at big banks, regulators are widening their nets to include luxury goods retailers, casinos, technology companies, and others. The Feds are holding more businesses accountable for questionable transactions and pushing those at risk to beef up AML compliance. “All companies, ...
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Blog
Business Lobby Targeting Proposed EU Gender Quotas for Boards
Image: Title: SégolNov. 25—A proposed directive to implement EU-wide quotas for women on boards is one of a handful of pending measures the newly installed European Commission should shelve, says BusinessEurope. The lobbying group argued in a notice to the Commission that was leaked to media outlet EurActiv that the ...
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CFPB Proposes New Rules for Prepaid Cards, Mobile Payments
Banks, retailers, online services, and others that issue prepaid cards to consumers will soon have some new rules to follow, including the need to conduct “ability to repay” assessments if they offer credit options. The rules, proposed by the Consumer Financial Protection Bureau, could also bring new regulations to mobile ...
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Article
Behind the Latest Push to Win Proxy Access for Shareholders
Image: Title: StringerThree years after a lawsuit scuttled the SEC’s proxy access rule, a new push is underway to give shareholders the right to nominate directors directly on the proxy. New York City Comptroller Scott Stringer, on behalf of the $160 billion New York City pension funds, recently submitted proxy ...
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Blog
Bank of England Chief Suggests Rules Needed for Bankers’ Fixed Pay
Image: Title: CarneyNov. 19—Even though caps on banker bonuses in the European Union are still generating controversy, some are calling for new rules for bankers’ fixed pay. Bank of England Governor and Financial Stability Board Chairman Mark Carney said during a speech this week that new rules on bankers’ fixed ...
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Blog
European Commission Pushing Ahead with New Shareholder Rights Law
Image: Title: HooijerNov. 19—The head of corporate governance for the European Commission, Jeroen Hooijer, said at a recent conference in the Netherlands that the Commission could put a proposal to revise the European Union’s shareholder rights rules before lawmakers by next summer. The proposal was unveiled last spring and calls ...
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ArticleA New Congress Will Bring New Chances to Alter Regulatory Landscape
The midterm elections brought a much stronger position in Congress to Republicans. While it may not be enough to give them the clout they need to make vast legislative changes, it has given them hold on the purse strings. With control of the budgeting process, and a potential new willingness ...
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Blog
New Conflict Minerals Reporting Template Improves Smelter Identification
Image: Title: RohwerThe latest version of the Conflict Free Sourcing Initiative’s Conflict Minerals Reporting Template is now available. The report provides information on which countries smelters and refiners get their minerals from. The latest version of the report provides improved translations and a more accurate approach to smelter identification. “By ...
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Blog
EU Financial Services Commissioner Will Press on With Reforms
Image: Title: HillNov. 12—The new EU commissioner for financial services has pledged to continue implementing numerous reforms sparked by the 2008 financial collapse, but cautioned lawmakers to assess the effect new regulations have on growth and jobs. Jonathan Hill, commissioner for financial stability, financial services, and capital markets union, said ...