Compliance Archive

Jan 24, 2019
How Graybar stays current on governance trends
In the four years since the introduction of this category, this is the third time Graybar Electric Company has won the award for best overall governance for a private company. But then it has been working on governance – and doing so as a private firm – for a long time: it celebrated its 150th anniversary during the week of the awards and is in its 90th year of employee ownership. Its employee and retiree shareholders number more than 7,300, which means that des...
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Jan 23, 2019
How NW Natural overhauled its ethics code
The key project for NW Natural’s compliance and ethics program in 2017 was a detailed and creative overhaul of the company’s code of ethics. It was the first review since 2012 of the code, which the company describes as the foundation of its business integrity program and which applies to all employees and the board of directors. ‘The previous code was short and rule-based, full of thou shalt not language,’ explains Shawn Filippi, vice president, chief compl...
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Jan 23, 2019
Integrating compliance into Visa’s DNA
Visa has done it again, winning the best compliance and ethics program (large cap) award for the second year in a row. Among other things, the judges commended Visa for its anti-money laundering efforts and continuously updating its program: no resting on laurels here. Compliance professionals often point to the importance of making their work an integral part of how a business operates, and Visa has made this a cornerstone of its program. Compliance tries to emphas...
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Jan 03, 2019
SEC seeks input on quarterly reporting
Companies may get a better idea this year of potential changes to how and when they report earnings, after the SEC called for feedback on the existing regulatory framework. The agency last month published a request for comment on the ‘nature, content and timing’ of earnings releases and quarterly reports made by reporting companies. The SEC wants input on how it can ‘reduce burdens on reporting co...
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Nov 29, 2018
NYSE opens comp committee exemptions to more companies
The SEC has approved changes to the NYSE’s listed company manual that will enable more smaller issuers to benefit from exemptions from compensation committee compliance requirements. The SEC in June adopted amendments to the ‘smaller reporting company’ (SRC) definition to expand the number of companies that qualify for certain existing disclosure benefits. The changes went into effect on Septem...
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Nov 14, 2018
Groups work on non-financial reporting standards alignment
Leading institutions in non-financial reporting – including the Sustainability Accounting Standards Board (SASB), the Climate Disclosure Standards Board (CDSB), FASB and the Global Reporting Initiative (GRI) – have launched a two-year project to drive better alignment between the different frameworks. The new project, which will be led by the IIRC’s Corporate Reporting Dialogue, will identify similarities and differences between a range of different reporting ...
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Nov 01, 2018
SEC guides on tackling shareholder proposals
On October 23, 2018, the SEC’s Division of Corporation Finance published Staff Legal Bulletin No 14J (SLB 14J), providing important guidance concerning shareholder proposals. Specifically, SLB 14J addresses board analyses that may be provided in the context of certain ‘ordinary business’ or ‘relevance’ no-action requests, the ‘micro-management’ prong of the ‘ordinary business’ exclusion, and the application of the ‘ordinary business’ exclusion ...
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Oct 25, 2018
CEOs back updated governance principles
The CEOs of major public companies and institutional investment firms have signed up to a revised set of principles designed to provide what the authors call ‘a basic framework for sound, long-term-oriented governance.’ The new document updates an initial set of principles released in 2016. That version was signed by CEOs of 13 organizations, including Berks...
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