Compliance Archive

Aug 14, 2019
SEC disclosure proposal sharpens human capital focus
The inclusion of human capital matters in regulatory plans to revamp corporate disclosures is likely to attract attention and require companies to examine how they approach that work, according to Laura Richman, counsel with Mayer Brown. The SEC last week proposed rule amendments that would update the description of business, legal proceedings and risk factor disclosures that registrants must make un...
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Aug 09, 2019
The week in GRC: Companies tell investors about gun violence risks, and SEC proposes updated disclosure rules
– CNN reported that HSBC CEO John Flint is stepping down after less than two years in the role. The bank said in a statement that Flint resigned by mutual agreement with the board, adding that change is needed to meet ‘the increasingly complex and challenging global environment’ the bank faces. HCBC said it is considering internal and external candidates to succeed Flint. N...
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Aug 08, 2019
CII backs long-term focus of new exchange’s rules
The Council of Institutional Investors (CII) has welcomed plans by a start-up exchange to require member companies to develop policies based around a set of principles based on focusing corporate governance beyond immediate concerns. The Long-Term Stock Exchange (LTSE) in June proposed a set of what it describes as ‘enhanced listing standards that are designed to allow a new generation of companies...
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Jul 26, 2019
Grant Thornton queries auditor attestation on ICFR proposal
Grant Thornton has raised concerns about a plan to exempt smaller companies from a key component of the Sarbanes-Oxley Act reforms, although the change is being welcomed by companies that would avoid the compliance burden. The SEC has proposed amending its accelerated filer and large accelerated filer definitions in an effort to lower compliance costs for certain lower-revenue companies. Specifically, the planned changes would mean that companies with less than $100...
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Jul 24, 2019
Proxy advisers agree to new standards
Leading proxy advisers have agreed to a series of updated principles and oversight from a new committee. Glass Lewis CEO KT Rabin tells Corporate Secretary sister publication IR Magazine: ‘As a founding signatory to the Best Practice Principles [BPP] for Shareholder Voting Research and Analysis Group [BPP Group], launched in 2014, Glass Lewis is pleased to confirm that the ...
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Jul 18, 2019
House panel passes climate risk disclosure bill
The House Financial Services Committee on Wednesday voted to approve a bill backed by several Democratic presidential candidates that seeks to boost and improve climate-related corporate disclosures under new SEC rules. The Climate Risk Disclosure Act of 2019 would order the SEC to consult with climate experts at other government agencies and then issue rules requiring that each public company disclose: Its direct and indirect greenhouse gas emissions...
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Jul 12, 2019
The week in GRC: Anadarko shareholders to vote on Occidental deal, and DoJ to credit antitrust compliance programs
– The New York Times reported that the UK Information Commissioner’s Office (ICO) said it intended to order British Airways to pay a fine of almost $230 million over a data breach last year, which would be the largest penalty against a company for privacy lapses under the General Data Protection Regulation (GDPR). According to the ICO, poor security ...
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Jun 26, 2019
How TCFD targets climate-related risk reporting
How does the Task Force on Climate-related Financial Disclosures (TCFD) approach ESG reporting? An industry-led initiative, the TCFD developed a voluntary framework for climate disclosures at the request of the Financial Stability Board. The TCFD recommendations have specifically been designed to solicit decision-useful, forward-looking information that shows the financial impacts of climate change on a business. The focus lies on companies disclosin...
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Jun 21, 2019
The week in GRC: SEC eyes revamping exempt-offering framework, and investors urge compliance with CDP reporting
– The Wall Street Journal reported that auction house Sotheby’s agreed to be taken private by art collector and media entrepreneur Patrick Drahi in a $2.7 billion deal. ‘After more than 30 years as a public company, the time is right for Sotheby’s to return to private ownership to continue on a path of growth and success,’ Sotheby’s ...
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