These are some of the compliance-related stories that recently caught my attention.
U.S. Banks Cut Off Mexican Clients, as Regulatory Pressure Increases by Rachel Louise Ensign,
Emily Glazer and Amy Guthrie in the Wall Street Journal
At issue are correspondent-banking relationships that allow Mexican banks to facilitate cross-border transactions and meet their clients’ needs for dealing in dollars—in effect, giving them access to the U.S. financial system. The global firms that provide those services are increasingly wary of dealing with Mexican banks as well as their customers, according to U.S. bankers and people familiar with the matter.[More…]
Why Does The SEC Have An FCPA Unit? by the FCPA Professor
Notwithstanding the fact that the SEC played an important role (indeed a more prominent role than the DOJ) in addressing the foreign corporate payment payments problem in the 1970s’s that led to enactment of the Foreign Corrupt Practices Act, it is a historical fact that the SEC never wanted any role in enforcing the FCPA’s anti-bribery provisions. [More…]
Where To Meet? The Answer May Have Surprising Consequences by Keith Paul Bishop in California Corporate & Securities Law
In my experience, companies most often hold board and shareholder meetings at or near their principal executive offices . As a result, many corporations hold their meetings in California even though they may be incorporated in Delaware, Nevada or some other jurisdiction. Geographical convenience, however, can have unforeseen consequences. Several provisions of the California General Corporation Law apply to foreign corporations based on where they hold their board or shareholder meetings. These include: [More…]
Shareholder Engagement: How to Handle ESG Inquiries by Broc Romanek in TheCorporateCounsel.net
Investor Relations and corporate governance teams increasingly are receiving investor questions about ESG matters. What should these teams do if they receive a call or letter? [More…]
Brick detail
by Grant MacDonald
CC BY NC