Recent high-profile clawbacks of executive pay highlight how company policies may need to evolve, both in terms of what pay is subject to clawback and whether a clawback should apply in circumstances where no financial restatement is required.
U.S. Representative Mark Pocan recently introduced a bill to require all public companies to provide country-by-country financial information in their SEC filings. This information would mirror the information collected by the IRS under a recent Treasury regulation affecting large multinational companies.
Recently, the SEC published its annual list of rules scheduled for review in the next twelve months. SEC Commissioner Michael Piwowar urged companies to comment in order to provide insights that will inform the SEC’s review.
PwC recently released its annual benchmarking survey of compliance practices at a broad range of companies. This year, the survey stressed the intersection of compliance and business strategy and focused on tone at the top, risk assessment and oversight.
On October 25, 2016, Fredrikson’s John Stout will lead a panel discussion to address the critical importance of a high-performing governance system and a culture that embraces strong values of ethics and legal compliance.
A group of executives from some of the largest U.S. corporations and investment managers recently released a report entitled “Commonsense Corporate Governance Principles.”
The SEC recently updated its compliance and disclosure interpretations to provide additional guidance on eligibility for use of a short-form Schedule 13G to report beneficial ownership of greater than 5 percent, rather than the longer Schedule 13D.
The SEC recently approved final amendments to its rules of practice for administrative proceedings, allowing parties to take depositions in certain circumstances and adding flexibility to the current timelines.
On Wednesday, July 13, the SEC proposed amendments to eliminate certain outdated or redundant disclosure requirements as part of its overall disclosure effectiveness review.
Recently, the SEC approved Nasdaq’s proposed rule to require listed companies to publicly disclose “golden leash” compensation or payments by third parties to directors or nominees in connection with their service on or candidacy for such company’s board.