These are some of the compliance-related stories that recent caught my attention.
Sen. Elizabeth Warren Sharply Criticizes SEC Chairman in Letter in the Wall Street Journal
Ms. Warren took aim at several issues in Tuesday’s letter, including a long-delayed executive compensation rule mandated by the 2010 Dodd-Frank law requiring companies disclose the pay gap between chief executives and their employees. The agency proposed the rule in 2013 but has yet to complete it. Congressional Democrats and unions have long-championed the measure though it is opposed by Republicans and business groups. [more…]
Why The WSJ Is Wrong About SEC Rulemaking On Claw backs in California Corporate and Securities Law
Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires the SEC to require the stock exchanges to prohibit the listing of securities of issuers that have not developed and implemented compensation claw-back policies. Thus, I expect that the SEC, when it gets around to it, will be forcing the stock exchanges to change their listing standards. The SEC won’t be directly forcing companies to claw back incentive pay. [more…]
The Impact of Newman on SEC Enforcement by Thomas O. Gorman in SEC Actions
In the wake of Newman the SEC has three apparent options: 1) Comply with Newman’s pleading requirements; 2) bring its actions as administrative proceedings; or 3) bring actions outside of the Second Circuit where the decision may not be applicable.
Wall Street and Ethics by Michael Volkov in Corruption, Crime & Compliance
