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Activist investor William Ackman played a central role over the weekend as Valeant moved to assuage its investors following a series of board meetings.
The 2016 proxy season is shaping up to be another milestone year for proxy access. The sheer volume of proposals—at close to 200—has well surpassed 2015 levels and continues to spark a tidal wave of corporate adoptions. In addition to the New York City Comptroller’s Boardroom Accountability Project, now in its second year, individual investors have stepped up their proxy access filings while cutting back on some of their longstanding initiatives, such as independent board chairs and special meeting and written consent rights.
Good morning. This is an open meeting of the U.S. Securities and Exchange Commission on March 14, 2016 under the Government in the Sunshine Act. Today, the Commission will consider the staff’s recommendation to approve the proposed FY 2016 budget and accounting support fee for the Public Company Accounting Oversight Board. The Commission has the authority and responsibility, under the Sarbanes-Oxley Act, for overseeing the PCAOB and approving the PCAOB’s annual budget and accounting support fee. I am pleased that we have Chairman Jim Doty, as well as other Board members and staff of the PCAOB, here with us today as we take up these matters.
The two hedge funds that have launcheda boardroom fight with United Continental Holdings Inc on Tuesday called on the airline to immediately appoint one ofits two new board members as chairman, according to a regulatoryfiling.
The Supreme Court ruled against Tyson Foods in a closely watched class-action case on the extent to which statistical evidence can be used to set damages in multiparty litigation against businesses.
US regulator says the e-commerce retailer cannot omit a proposal addressing the pay gap and it should be voted on at the May shareholder meeting
Valeant Pharmaceuticals has begun a search for a new chief executive to succeed Michael Pearson as the drugmaker also acknowledged improper conduct by its top financial officers. In addition, the company named Pershing Square’s William Ackman to its board.
On March 4th, the Federal Reserve Board (FRB) reproposed its single-counterparty credit limits (SCCL) rule. The reproposal comes several years after two earlier versions (in 2011 and 2012), [1] and almost two years after the related large exposures framework issued by the Basel Committee on Banking Supervision (BCBS).
Earlier this year, Ally Financial said it would not give into demands from hedge fund Lion Point Capital to sell the company.
Read latest business news in Montreal and around Quebec, money, real estate, financial markets and others. Use financial tools and daily business advice from Montreal Gazette.
The Delaware Court of Chancery’s recently published opinion in Amalgamated Bank v. Yahoo!, Inc.[1] (the “Opinion”) provides a reminder for directors about the importance of process in satisfying fiduciary duties when evaluating and approving executive compensation packages.
Lobbying disclosure is sought by shareholder resolutions filed at 50 companies by 66 institutional & individual investors. This is NOT a free speech issue.
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Rein in hedge funds through Brokaw Act. Will public unions and their pension funds join efforts by other Americans to keep our jobs and towns safe?
Over a decade ago, a series of sensational accounting scandals exposed severe weaknesses in our accounting and financial reporting system. Ultimately, a number of large companies collapsed after revelations about their fictitious accounting. This raised concerns about the public’s confidence in financial reporting, in the capital markets, and particularly, regarding the role of the public’s gatekeepers, the auditors. Nine months after Enron’s financial misdeeds were first reported, and weeks after the WorldCom scandal became public, Congress passed the Sarbanes-Oxley Act of 2002. [1]
2011 law requires CAC 40 boards to have women account for at least 40% of their members by next year
Amazon.com Inc. filed suit against a longtime logistics and supply chain executive recently hired by rival Target Corp. over what it said was a violation of a noncompete agreement.
It takes extraordinary circumstances for the CEO himself to take a seat on the board of an ailing investment, but some observers say he may be too close for comfort
Valeant Pharmaceuticals International Inc.’s former chief financial officer and current board member Howard Schiller has been accused by the embattled drugmaker of misconduct, and yet the one thing the company can’t get him to do is quit.
Regulators seem to think so. In the Dodd-Frank Act, policymakers made an unprecedented move towards using securities regulation to address issues unrelated to the Securities and Exchange Commission’s (“SEC”) core mission of protecting investors and maintaining the fair and efficien
The Harvard Law School Program on Corporate Governance and the Harvard Law School Program on Institutional Investors convened the Harvard Roundtable on Corporate Governance last Wednesday, March 16. The event brought together for a roundtable discussion seventy-nine prominent experts with a wide range of perspectives on this subject, including those of investors, issuers, advisors, academics, and public officials. Participants in the event, and the topics of discussion, are set out below.
Starwood Hotels and Resorts Worldwide Inc (HOT.N), owner of the Sheraton and Westin brands, accepted a higher $13.6 billion acquisition offer from peer Marriott International Inc (MAR.O), spurning a bid from China's Anbang Insurance Group.
Senate Democrats take on activist hedge funds and their "wolf packs."
To ensure compliance with disclosure and accounting requirements, the SEC periodically reviews reporting companies’ filings, including the Form 10-K.
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Scoop.it!
