The Magazine of Corporate Responsibility

Tag Archive for ‘Dodd-Frank Wall Street Reform and Consumer Protection Act’

Companies Seek to Challenge SEC Bounties for Whistleblowers

A section of the Dodd-Frank financial reform act requires the SEC to pay a cash award to whistleblowers to voluntarily provide original information about violations of federal securities laws that lead to a successful enforcement action. A particularly divisive issue: the proposed rules don’t require a whistleblower to first use internal corporate compliance procedures.

Budget Cuts, Lobbying Challenge SEC’s Oversight

When President Obama came into power on the heels of the financial crisis, he pledged to beef up the Securities and Exchange Commission, a chief watchdog of Wall Street. But with a strapped budget and the changing political winds in Congress, that plan may come up short.

SEC Approves Proxy Access for Shareholders

Given the green light by Congress, the Securities and Exchange Commission approved and released a long-awaited rule on procedures under which shareholders can get their nominees for directors included in corporate proxy materials. Under the new rule, shareholders seeking access to proxies would have to own at least 3% of the total voting power entitled to vote at an annual meeting.

Companies Pressed on Policies to Clawback Executive Pay

When financial results aren’t what they seemed to be – and a company is forced to issue material financial restatements – how does it recoup the incentive pay and bonuses that were awarded to senior managers on the basis of rosier outcomes? It’s not a simple process, as evidenced by reactions to a provision in the newly-enacted Dodd-Frank financial reform legislation.

SEC Seeks Comments on New Financial Rules

As the Securities and Exchange Commission prepares to deal with a deluge of new rule-making tasks tied to the Dodd-Frank financial reform law, agency Chairman Mary Schapiro announced a new system for soliciting public input on rules. “We are inviting public comment even before the various rules are proposed and before the official comment periods have begun,” she said.

Executive Comp and Governance Provisions of Dodd-Frank Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act, widely considered to be one of the most comprehensive reforms of the U.S. financial industry in years, was signed into law on Wednesday. While many provisions of the Act relate primarily to banks and the financial regulatory system, the new legislation will also have a significant impact on corporate governance and executive compensation practices for public companies in general.