Financial Regulatory Forum

Corporate governance watch: vote failures signal investor dissatisfaction with executive pay

By Guest Contributor
May 10, 2012
By Alex Lee

NEW YORK, May 10 (Business Law Currents) – Stockholders are making their discontent heard through say-on-pay votes that have not been flattering to executives. So far this year, multiple companies have outright failed these votes and even more have not been able to reach the 70 percent approval threshold. In light of Institutional Shareholder Services’ (ISS) 2012 Corporate Governance Policy Updates, evaluations of company pay policies are in line for even greater scrutiny.

Foreign bribery fines and settlements: who should get the money?

By Guest Contributor
May 9, 2012

By Luke Balleny

NEW YORK, May 9 (Thomson Reuters Foundation) – ‘Share and share alike,’ some parents love to tell their offspring. But when it comes to fines or settlements from foreign bribery cases, the issue of sharing is a contentious one.

Negligence charges gain clout in SEC enforcement arsenal

By Guest Contributor
May 9, 2012

By Julie DiMauro

BOSTON/NEW YORK, May 9 (Thomson Reuters Accelus) - Financial services firms may face more negligence cases brought by the U.S. Securities and Exchange Commission, reflecting a greater willingness by the commission to base charges on negligence findings, industry professionals were told at a Thomson Reuters forum.

U.S. SEC set to monitor private equity funds, official says

By Guest Contributor
May 8, 2012

By Stuart Gittleman

NEW YORK, May 8 (Thomson Reuters Accelus) - Many of the world’s top private equity funds will soon be examined by the U.S. Securities and Exchange Commission, Carlo di Florio, director of OCIE, the SEC’s Office of Compliance Inspections and Examinations, said.

U.S. compliance officers need clarity on status as ‘supervisors,’ industry professionals say

By Guest Contributor
May 8, 2012

By Stuart Gittleman

NEW YORK, May 8 (Thomson Reuters Accelus) – The U.S. Securities and Exchange Commission’s dismissal of failure-to-supervise proceedings against a broker-dealer’s general counsel did little to ease compliance officers’ concerns over their potential for acting in a supervisory capacity, according to leading industry professionals.

The U.S. JOBS Act and non-U.S. companies: changes to the offering process and compliance challenges

By Guest Contributor
May 8, 2012

By Robert Evans, Thomson Reuters Accelus contributing author

NEW YORK, May 8 (Thomson Reuters Accelus) – In April 2012, the U.S. securities laws changed significantly with the Jumpstart Our Business Startups Act, also known as the JOBS Act. The JOBS Act is deregulatory, easing some of the rules for companies seeking to access the U.S. capital markets. The offering process for SEC-registered IPOs is changing as a result and the U.S. Securities and Exchange Commission staff is working on further rule changes. Publicity restrictions will be eased for private placements and Rule 144A offerings. Offerings of up to $50 million will be exempted from registration. These changes pose interesting compliance challenges.

Switzerland says goodbye to light touch regulation

By Guest Contributor
May 3, 2012

By Rachel Wolcott

LONDON, May 3 (Thomson Reuters Accelus) - These days even the Swiss are fed up with their bankers. The financial crisis has riled Swiss citizens to the point that the Alpine country’s reputation for light-touch financial regulation will soon be a thing of the past. In a direct democracy such as Switzerland, where every citizen can vote on laws and even propose them, the people have spoken. What they have said is: we want more rules and regulation for bankers and asset managers.

Wal-Mart bribery scandal seen undermining effort to soften U.S. anti-corruption statute

By Guest Contributor
May 2, 2012

By Brett Wolf

ST. LOUIS, May 2 (Thomson Reuters Accelus) – News that Wal-Mart may have tried to cover up bribes paid by its Mexico unit will make it difficult for Congress to weaken an anti-bribery statute loathed by the U.S. business community, at least in the short term, sources say.

Report: Q & A – Why New York is the nation’s top online fraud center, and which transactions are riskiest

By Guest Contributor
April 23, 2012

By Connie Loizos

NEW YORK, April 23 (PeHUB) – If you’re wondering which city in the country is the epicenter of online fraud, it’s New York.

Bank ‘mystery shoppers’ can help ensure adherence to abusive practice rules, expert says

By Guest Contributor
April 17, 2012

By Ted Knutson

WASHINGTON/NEW YORK, April 17 (Thomson Reuters Accelus) - The use of “mystery shoppers” and focus groups to test the compliance of bank employees has broadened beyond the traditional topic of lending discrimination to now include uncovering and avoiding violations of unfair, deceptive and abusive practice, an industry consultant said.