(Forbes, 8 May 2012) In Brief: The scale and pace of regulatory change taking place in the financial services industry is unprecedented, and penalties for non-compliance are growing. Make regulatory activity “the primary consideration in determining strategic direction and long-term positioning of the bank,” advises the author. Our View: Legal departments across industries cite multiple [...]
Read more(The Harvard Law School Forum on Corporate Governance and Financial Regulation, 8 May 2012) In Brief: Of the 180 companies to report say-on-pay results so far, 65% were successful with 90% or more support, 25% passed with 70.1 to 90% support, 8% passed with between 50 and 70% support, and 2% got less than 50% [...]
Read more(Business 2 Community, 30 April 2012) In Brief: The US Securities and Exchange Commission (SEC), along with federal and state attorneys, is cracking down on companies’ selective disclosure practices; and in the process, broadening the interpretation of Regulation Fair Disclosure (Reg FD). At a recent seminar, a senior commission official suggested that there was no [...]
Read more(The New York Times, 3 May 2012) In Brief: European data privacy regulators may open a new probe into Google’s collection methods for its Street View location services. “It is time for data protection authorities around the world to work together to hold the company accountable,” said Jacob Kohnstamm, chairman of the European Commission’s advisory [...]
Read more(B2C, 17 April 2012) In Brief: Investors and analysts are increasingly demanding company information from division heads to determine if their positions on operations, strategy, and tactics are in sync with executives.’ IR teams must provide investors with the access they want while ensuring that the company delivers consistent messages and complies with disclosure requirements. [...]
Read more(Corporate Compliance Insights, 24 April 2012) In Brief: Export/import enforcement matters are becoming more frequent as companies increasingly trade across international borders, says the writer. The risk of acquiring a company with a previous export/import violation must be incorporated into M&A due diligence checks. Our View: Leading compliance teams foster cross-functional collaboration to create a [...]
Read more(The New York Times, 22 April 2012) In Brief: In 2005, top executives at a global retailing giant received evidence of widespread bribery by a subsidiary during a drive to build new stores rapidly throughout Mexico, The New York Times said. The multinational corporation disclosed to US authorities and to shareholders in December that it [...]
Read more(Compliance Week, 20 April 2012) In Brief: The Federal Reserve Board will give banks two years to comply with the Volcker Rule after its effective date of 21 July. The proposal, which is still not final, would ban proprietary trading. Our View: The Volcker Rule and other changing requirements for anti-corruption, whistleblowers, data privacy, and [...]
Read more(The Wall Street Journal, 15 April 2012) In Brief: People convicted of insider trading would face longer prison terms under guidelines updated by the US Sentencing Commission last week. The Justice Department supported the change, saying that business professionals “are routinely presented with the opportunity to commit insider trading offenses, and, thus, higher sentences are [...]
Read more(Corporate Compliance Insights, 12 April 2012) In Brief: Violating the European Union’s competition law can result in fines of up to 10% of global revenue, costly investigations, and potential negative external publicity, says one attorney. Our View: Facing both constrained resources and global regulatory authorities who hold companies to an ever-higher standard with respect to [...]
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