Updated in June 2004, this is a PDF version of the SEC Rules Of Practice. Weighing in at 108 pages, the document includes information on disgorgement rules, initiation of proceedings, and more.
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Posted inBoards & Shareholders
The Costs of Entrenched Boards
Study by two professors at The Harvard Law School looks at how the value of publicly traded companies is affected by arrangements that protect management from removal. “We find that staggered boards are associated with an economically significant reduction in firm value,” note the authors.
Posted inFrom the Archive
Companies Not Tracking Compliance Costs, Value
COMPLIANCE BARRIERS Barrier Percent Complexity of regulatory environment 69% Complexity of designing compliance process 46% Perception that comp-liance is not strategic 27% Perception compliance not burden of all staff 15% Inadequate IT for monitoring compliance 11% Focus on cost cutting 11% Inadequate staff skills 8% Source: PwC Results of PwC Survey On Compliance Costs According […]
Posted inFrom the Archive
A Talk With GC And CCO Of $2.9 Billion Yellow Roadway
This profile is the fourth 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. Tell us about the position of chief compliance officer at Yellow Roadway. Well, I’d start by saying compliance isn’t a […]
Posted inInternal Controls
92% Of Internal Auditors Found Internal Control Gaps
In a recent survey of 200 internal auditors, over 90 percent reported significant gaps in their organization’s internal control framework. According to the survey, conducted by risk and compliance consulting firm Jefferson Wells International and the Institute of Internal Auditors, the greatest number of the respondents (34 percent) cited lack of process control-related documentation. Another […]
Posted inFrom the Archive
Are More Companies Adopting Voluntary Governance Changes?
Are more companies voluntarily making changes to their governance practices? It is starting to appear this way … maybe. In the past few weeks, a number of companies have taken it upon themselves to institute changes on a number of major issues that have recently been raised by investors, activists and governance specialists. For example, […]
Posted inFrom the Archive
Companies Starting To Change Stock Purchase Plans
A recent survey by Deloitte & Touche predicted that 30 percent of companies would reduce the use of employee stock purchase plans if FASB’s expensing proposal became effective. That may already be happening, partially in response to the FASB expensing proposal. According to Equilar, a San Mateo, Calif.-based company that tracks executive compensation, public companies […]
Posted inBoards & Shareholders
Directors’ Fees Are Up, But Compensation Isn’t The Key Issue
First gasoline, then milk … now say hello to the next business sector gripped by inflation: corporate directors’ fees. Cash compensation for directors surged at double-digit rates last year, according to a new survey of publicly traded companies. And it’s likely to keep escalating while corporate America digests the new managerial obligations spawned by the […]
Posted inInternal Controls
Is That A Reportable Condition Or A Significant Deficiency?
What’s the difference between a reportable condition and a significant deficiency in your internal controls? Well, so far, that’s depended on whom you ask. A survey of SEC filings shows that companies are already confused about the terms. According to James DeLoach, managing director at internal auditing and risk consulting firm Protiviti, “The term ‘reportable […]
Posted inAccounting & Auditing
What If Your Audit Gets Inspected By The PCAOB?
As you likely know, the Public Company Accounting Oversight Board will be conducting inspections of the Big Four and other accounting firms on a regular basis. However, if your company’s audit becomes the subject of a PCAOB inspection, you won’t find out from the Board. Sayther That’s according to Colleen Sayther, president and CEO of […]
