Corporate governance - Vigil

The rise of third-party committees is part of a larger move in Japan toward beefing up corporate governance following a raft of scandals, but critics say their investigations fall short.

The New York State Department of Financial Services (NYDFS) issued its final rule on June 30, 2016 requiring either senior officers or the board of directors to certify the effectiveness of anti-money laundering (AML) and Office of Foreign Assets Control (OFAC) transaction monitoring and filtering programs. [1] The rule (Part 504 of the NYDFS Superintendent’s Regulations) is a response to weaknesses in transaction monitoring and watch list filtering programs that the NYDFS identified during routine examinations and subsequent investigations over the past several years.

The concept of “bailing in” a distressed bank’s creditors to avoid a taxpayer-financed public rescue is commonly accepted as one of the most significant regulatory achievements in the post-crisis efforts to end the problem of “Too Big To Fail”. Yet behind the political slogan, surprising uncertainties remain as to the precise regulatory objective of bail-in, as well as its trigger and the requirements for applying bail-in powers. Further, broad scepticism is voiced as to decisiveness of regulators to make use of their bail-in powers. In short, serious doubts persist as to the credibility of the concept, in particular relating to the fear that regulators may shy away from taking bail-in action in the decisive moment of rescue operations. Regulatory frameworks are ambivalent about the precise trigger requirements and substantial conditions for applying it. At the bottom of this vagueness is a surprising uncertainty about the policy purpose of bail-in.

Liberty Media Corp. Chief Executive Greg Maffei floated an offer to internet radio company Pandora Media for roughly $15 a share but Pandora’s board rebuffed the advance, people familiar with the matter said.

Financial and stock performance throughout the S&P 1500 deteriorated in 2015 as summarized in Figure 1. (For a more detailed analysis, see Year-end 2015 pay-for-performance update for the S&P 1500: Incremental improvement for 2016?, Executive Pay Matters, April 21, 2016.) Our review of proxy statement disclosures that were filed this spring reveals the impact those results had on CEO pay, namely, for the bonus payouts and “compensation actually paid” under long-term incentive plans.

There is increasing evidence that state public pension funds preferentially direct their investments towards local corporations, creating a bias which cannot be justified by subsequent returns. In our paper, Institutional Investors and Corporate Political Activism, we investigate the political activism of firms and how it is influenced by the presence of state public pension fund ownership. The paper shows that state-level political connections appear to be an important mechanism of political activism by corporations with state public pension fund ownership.

Effective corporate governance is critical to the productive operation of the global economy and preservation of our way of life. Excellent governance execution is also required to achieve economic growth and robust job creation. In the United States, the premier corporate director membership organization is the National Association of Corporate Directors (NACD). NACD plays a major role in fostering excellence in corporate governance in the United States and beyond.

The following is a series of corporate governance principles for public companies, their boards of directors and their shareholders. These principles are intended to provide a basic framework for sound, long-term-oriented governance. But given the differences among our many public companies—including their size, their products and services, their history and their leadership—not every principle (or every part of every principle) will work for every company, and not every principle will be applied in the same fashion by all companies.

Finance ministers said in a statement they expect to enact complementary federal and provincial legislation by June 30, 2018

On July 13, 2016, the Securities and Exchange Commission (“SEC”) adopted important amendments updating its rules of practice governing its administrative proceedings.

The Hartford’s board of directors today approved an amendment to the company’s bylaws, enabling eligible shareholders to nominate their ow

While people routinely laud the value of Warren Buffett’s unique governance of Berkshire Hathaway, I have tallied the costs, highlighting lessons for Buffett’s successors, Berkshire’s peers, and public policy.

Industrywide, asset managers are struggling to redefine themselves as passive investing grows ever more popular.