Financial Regulatory Forum

By Julie DiMauro

NEW YORK, Aug. 13 (Thomson Reuters Accelus) – The sanctions evasion case against Standard Chartered PLC highlights a governance disconnect at many financial services firms between the legal and compliance departments and their perceived obligations, with the former being focused on the letter of the law and the latter on its spirit.

Standard Chartered’s general counsel sent emails to the bank’s compliance officer that “embraced a framework for regulatory evasion,” according to the case filed against the bank last Monday by New York’s top financial regulator.

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By Erik Krusch

Feb. 2 (Westlaw Business) – Dodd-Frank and SEC-bolstered shareholders officially have a say on company pay. The SEC recently adopted rules requiring companies to hold say-on-pay, say-on-pay frequency, and golden parachute approval votes. Companies from Deere & Co. and Apple to Johnson Controls and Monsanto’s proxies are drafted, filed and poised to comply with the new rules. Companies and shareholders, however, still have plenty to hash out around the mechanics of executive compensation votes this proxy season. (more…)

   By Rachelle Younglai
   WASHINGTON, July 1 (Reuters) – U.S. securities regulators moved to change how companies elect board members and govern themselves, tilting the corporate playing field toward investors who have complained of weak boards and lavish pay for top executives. (more…)