This profile is the latest in a series of weekly conversations with executives at U.S. public companies who are currently involved in establishing and developing compliance programs. An index of previous conversations is available here. You were formally named governance officer only in April. How did Ingersoll manage governance before that? It’s been an evolutionary […]
CW Subscriber Only
Posted inTechnology
Software, Services Firms Launch Compliance Consortium
A group of software, content and services firms announced yesterday the launch of the Compliance Consortium, which will promote efficient enterprise governance, risk and compliance management. The consortium, spearheaded by enterprise compliance solution provider Axentis, includes a variety of other companies like risk consulting and internal audit firm Jefferson Wells, whistleblower reporting service The Network, […]
Posted inRegulatory Enforcement
SEC General Counsel Outlines Amicus Developments
In a speech before the American Bar Association, SEC General Counsel Giovanni Prezioso shed some light on the Commission’s amicus program, through which it intervenes in private securities litigation to present its point of view.
Posted inRegulatory Enforcement
SEC Fines Rise, But Not Everywhere; Law Suits Worse?
Though a recent Reuters study found that the SEC has levied more than $500 million in fines this year, the data might not be as frightening for public companies as it sounds. According to Kevin Drawbaugh, who conducted the survey, the bulk of the fines came from the mutual fund timing and research analyst settlements. […]
Posted inFrom the Archive
SOX Not Hindering Foreign Participation In U.S. Market?
Though NYSE CEO John Thain noted in a speech last week that foreign companies were less likely to participate in U.S. markets due to Sarbanes-Oxley, a recent survey suggests the opposite. The study, conducted by Broadgate Capital Advisors and The Value Alliance, found that SOX has had a minimal impact on ADR issuers. Only 8 […]
Posted inFrom the Archive
Talking With Eastman Chemical’s Director Of Ethics And Compliance
This profile is the fifth in a series of weekly conversations with executives at U.S. public companies who are currently involved in establishing and developing compliance programs. An index of previous conversations is available here. Usually we talk to a chief compliance or governance officer. Your title is a bit unusual. What’s the logic behind […]
Posted inFrom the Archive
The New Split? President, CEO Positions Separated
In recent months, we’ve grown accustomed to writing about companies separating—or combining—the roles of chairman and CEO. Most of the companies making the split cite best practices in corporate governance as their motivation. Another motivator is institutional investors, as several pension funds have urged companies to make the split, or at least name a lead […]
Posted inInternal Controls
Risky Business: Assessing And Managing Risk
Management’s most important job is identifying, assessing and managing risk; how well it’s perceived to perform this role is often reflected in a company’s share prices. After shocking corporate defalcations, high-profile prosecutions, Sarbanes-Oxley’s passage and dozens of new regulatory requirements, focus on risk management has become clouded and diffused. This, in turn, often means management […]
Posted inBoards & Shareholders
Resolutions Altering Board Nominations Are Defeated
A couple of barely noticed shareholder resolutions that would change the way directors are nominated were soundly defeated last week at the annual meetings of Bank of America and Comcast Corp. Bank of America shareholders rejected a measure calling on the company to nominate at least 50 percent more nominees than there are open board […]
Posted inFrom the Archive
Sarbanes-Oxley Forcing Execs To Exercise Options
The provision in the Sarbanes-Oxley Act that bans loans to corporate executives has drawn public attention recently, as one major company took steps to comply with the rule while another company was accused by a shareholder research firm of skirting key provisions of the law. In case you’ve forgotten, Section 402 of Sarbanes-Oxley prohibits public […]
