Section 954 of the Dodd_Frank Act requires national securities exchanges (meaning for instance, the NYSE, Amex and Nasdaq) to adopt rules as directed by the SEC, which rules will require issuers to develop and implement a policy providing: for disclosure of an issuer’s policy on incentive compensation that is... Read More
The Dodd-Frank Wall Street Reform and Consumer Protection Act requires certain investment advisers to “private funds” to maintain certain records and file reports with the SEC for the purpose of providing the SEC and the Financial Stability Oversight Council with an opportunity to identify potential systemic risk in the system... Read More
HP’s Chief Executive Officer, Mark Hurd, resigned after an investigation disclosed that Hurd had a “close personal relationship” with an H-P contractor hired by the Office of the CEO and that “Mark never disclosed that.” According to HP’s General Counsel, “there were instances of compensation and reimbursement for services that were... Read More
I have been thinking about the new Dodd-Frank requirement for public companies to report the ratio of the median annual total compensation of all the company’s employees (other than the CEO) to the CEO’s annual total compensation. This is a provision that requires SEC regulatory guidance before it becomes effective,... Read More
The Dodd-Frank Act and the Sarbanes-Oxley Act both have provisions for clawbacks. Public companies need to be familiar with all of these provisions. Dodd-Frank Section 954 of the Act requires national securities exchanges to adopt rules as directed by the SEC, which rules will require issuers to develop and implement... Read More
The Dodd-Frank Act contains a number of provisions designed to improve the independence and operations of Compensation Committees. But in doing so, has Congress made it more difficult – if not impossible – for a company’s regular outside law firm to assist its Comp Committee? The Act provides that a... Read More
Bloomberg is reporting the SEC is in a rift over clawback policies. “The U.S. Securities and Exchange Commission is divided over when to seize pay from executives who unwittingly benefit from accounting fraud, a rift that has triggered internal disagreements over cases, according to people with direct knowledge of the... Read More
The Interaction Between Dodd-Frank and Minnesota Regulation of Investment Advisers Before enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the following rules applied under the Investment Advisers Act of 1940: The Investment Advisers Act precluded investment advisers with less than $25 million in assets under management from... Read More
The Dodd-Frank Act and the Sarbanes-Oxley Act both have provisions for whistleblowers. Public companies need to be familiar with all of these provisions. The Dodd-Frank Act provides that if a “whistleblower” provides “original information” in certain judicial or administrative actions, the whistleblower may be entitled to as much as 10... Read More
The Dodd-Frank Act contains provisions designed to help protect seniors (62 and over) from being victimized by persons who market securities, insurance products, or financial instruments to seniors and who claim to be specially certified to assist seniors in financial matters. The Act requires the newly authorized Office of Financial... Read More