Dodd-Frank.com

Developments in Securities Regulation, Corporate Governance, Capital Markets, M&A and Other Topics of Interest

SEC Charges Company for Failing to Evaluate and Disclose Board Member’s Lack of Independence

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The SEC announced settled charges against formerly publicly-traded Leaf Group Ltd. for failing to adequately evaluate and disclose in its annual proxy statement the lack of independence of a director and a board committee as well as an “interlocking” board-of-directors relationship between that director and Leaf’s Chief Executive Officer. According... Read More

Topics: Litigation, Public Companies and Securities

SEC Provides Public Companies Guidance on Up Coming LIBOR Expiration

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The SEC issued a statement reminding public companies that on March 5, 2021, LIBOR’s regulator, the Financial Conduct Authority, and administrator, ICE Benchmark Administration, Limited, announced that the publication of the one-week and two-month USD LIBOR maturities and non-USD LIBOR maturities will cease immediately after December 31, 2021, with the... Read More

Topics: Public Companies and Securities

SEC Staff Issues Accounting Guidance on “Spring-Loaded” Compensation Awards to Executives

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The SEC staff has released guidance for companies about how to properly recognize and disclose compensation cost for “spring-loaded awards” made to executives. Spring-loaded awards are share-based compensation arrangements where a company grants stock options or other awards shortly before it announces market-moving information such as an earnings release with... Read More

Topics: Public Companies and Securities