Executive Compensation, Where Everyone is Above Average
It seems like executive compensation consultants come from Lake Wobegon, where “all the women are strong, all the men are good looking, and all the children are above average.” I think executives should be compensated for out-performing their peers. They shouldn’t be punished for a negative performance due to external forces if they still out-performed … Read more »
A Flurry of Stories on Mutual Fund Fees
Over the last few days there has been renewed interest in the upcoming Supreme Court case that will should rule on the fees charged by mutual funds. Back in May, I published Supreme Court to Decide on Investment Company Act Case after they agreed to hear Jones v. Harris Associates, L.P. I didn’t expect much … Read more »
150 Years or the Firing Squad
What is the right punishment for financial fraud? Bernie Madoff received the maximum sentence for his charges. 150 years. His lieutenant, DiPascali, was denied bail by the judge at his hearing last week, despite an agreement between his lawyer and the prosecutors. He has a maximum sentence of 120 years. They stole billions. Marc Dreier … Read more »
New Compliance and Disclosure Intepretations for Regulation FD
As part of the Updates to Compliance and Disclosure Interpretations, the SEC has published new compliance and disclosure intepretations for Regulation FD. I found these CD&I’s particularly interesting in light of the SEC’s loss in the Cuban case. The SEC seems to be providing a better roadmap for disclosure of information. Here are a few … Read more »
Updates to Compliance and Disclosure Interpretations
The staff of the Securities and Exchange Commission’s Division of Corporation Finance has updated a bunch of Compliance and Disclosure Interpretations. Here are a few questions that caught my eye, with a snapshot of the answer. Follow the question’s link for the complete answer. There are many more new and revised questions under the Securities … Read more »
Massachusetts Amends Strict Data Privacy Law (Again)
UPDATE: Another revision was published on November 5, 2009. See: Massachusetts Amends Its Strict Data Privacy Law (Yet, Again) The Massachusetts’ Office of Consumer Affairs and Business Regulation has decided to amend the strict data privacy law and extend the deadline for compliance. This is yet another amendment to the regulations. The last amendment had … Read more »
AIMA Warns of Global Impact of EU AIFM Directive
The Alternative Investment Management Association has warned that the European Commission’s draft directive on Alternative Investment Fund Managers would negatively affect fund managers and investors around the world if enacted into European law. The Directive applies primarily to any Alternative Investment Fund Managers which is established in an EU Member State and which provides management … Read more »
Control Components Inc. and the FCPA
Control Components Inc. pleaded guilty to violating the anti-bribery provisions of the Foreign Corrupt Practices Act and the Travel Act, admitting to bribing foreign officials in a decade-long scheme. As part of the plea agreement, Control Components agreed to pay a criminal fine of $18.2 million; create, implement and maintain a comprehensive anti-bribery compliance program; … Read more »
A View of the MBA Ethics Oath by the Daily Show with Jon Stewart
A hilarious view on the MBA Ethics Oath by Jon Stewart and Jon Oliver on The Daily Show. There is a great Scared Straight piece with some MBA Students. The Daily Show With Jon Stewart Mon – Thurs 11p / 10c Read more »