On January 17, 2006, the SEC proposed amendments to its rules which, among other things, would significantly modify the rules governing executive compensation disclosure. Included in the SEC proposals was significant new guidance as to what constitutes a perquisite or other personal benefit; this guidance must be followed during the 2006 annual proxy season and beyond.
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On November 4, 2003, the SEC approved the NYSE’s corporate governance rules (Sections 303A.01 - 303A.07 and 303A.09 - 303A.13 of the NYSE Listed Company Manual). The NYSE issued FAQs in January of 2004 and February of 2004, providing guidance in interpreting some of these new rules.
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On August 25, 2004, the SEC proposed to postpone for one year the final phase-in period for acceleration of the due dates of quarterly and annual reports required to be filed under the Securities Exchange Act of 1934 by "accelerated filers."
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On February 24, 2004, the SEC extended the compliance dates that require companies, other than registered investment companies, to include in their annual reports a report of management on the company’s internal control over financial reporting as required by Section 404 of Sarbanes-Oxley ..
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Pursuant to Section 404 of the Sarbanes-Oxley Act of 2002 (the “Act” or “Sarbanes-Oxley”), the SEC has adopted rules requiring companies subject to the reporting requirements of the Securities Exchange Act of 1934 (the Exchange Act”)
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As anticipated, the SEC has approved additional reporting requirements on Form 8-K. The amendments add ten disclosure items to Form 8-K, including transferring two items to the current report from the periodic reports. The amendments will also reduce the filing deadlines (currently five business and 15 calendar days) to four business days ...
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On November 4, 2003, the SEC approved the Nasdaq’s corporate governance proposals which revised NASD Rules 4200, 4350 and 4360 of the Nasdaq Listed Company Manual. On November 26, 2003, the Nasdaq released the complete text of these revised rules. Set forth below is a discussion of these revised rules. ...
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On November 24, 2003, the SEC issued amendments to existing disclosure requirements regarding the operations of board nominating committees and issued new disclosure requirements concerning the means, if any, by which security holders may communicate with directors ...
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On October 14, 2003, the SEC issued proposed new rules that would, under certain circumstances, allow long-term security holders, or groups of long-term security holders, with significant holdings to include their nominees in company proxy materials (Release No. 34- 48626 (the “Release”)). These rules would not provide security holders with the right to nominate directors where it is prohibited by state laws ...
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In a SEC Release No. 33-8124, dated August 29, 2002 (the “Release”), the SEC adopted rules implementing the certification requirement set forth in Section 302 of the Sarbanes-Oxley Act of 2002 (the “Act”).
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