Tag Archives | SOX

Corporate Governance: Don’t Rush Reforms

from BW.com The last decade has been an economic perfect storm. Things got off to an unpleasant start with the bursting of the dot-com bubble. The Enron/WorldCom/Tyco scandals followed close behind. The past few years have featured the subprime mortgage crisis and the credit crunch precipitated by the Lehman Brothers bankruptcy. For equity investors pummeled […]

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Former Chief Will Forfeit $418 Million

from NYTs In one of the largest corporate pay give-backs ever, William W. McGuire, the former chief executive of UnitedHealth Group, has agreed to forfeit at least $418 million to settle claims related to back-dated stock options. The payback is on top of roughly $198 million that Mr. McGuire, an entrepreneur who built UnitedHealth, had […]

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UnitedHealth’s McGuire Shrinks From The Fight

from Forbes UnitedHealth Group, the Securities and Exchange Commission and ex-chief William McGuire resolved their ongoing battle Thursday over McGuire’s controversial compensation. He will return $461 million in stock options and other compensation to his former employer and pay a $7 million civil penalty to the SEC, in exchange for all charges and legal claims […]

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Sarbox Continues To Bite

from Forbes The day is upon us when the act of corporate compliance isn’t as cumbersome as saying the actual words. It’s been slightly more than five years since the law was enacted (but enforced three years ago) and finally more U.S. public companies are reporting fewer weaknesses in adhering to Sarbanes-Oxley (SOX) compliance than […]

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Sarbox Peels Back The Onion

from Forbes On a mission to make everyone in corporate America a Boy Scout, the Sarbanes-Oxley Act is now five years young and, for all intents, seems to be having the desired effect, according to one of its architects. While some in the business community have ranted and raved about what was once a compliance […]

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Don’t Rush To Regulate

from Forbes If 2006 was a good year for economic growth and big gains, then 2007 is shaping up to be an even better one for economic regulation and big government. Democrats are determined to regulate everything from energy to hedge funds, private equity to executive compensation packages. With the recent headlines out of the […]

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Foreign IPOs Rise

from TheStreet.com U.S. exchanges are getting more and more foreign listings, even if there’s some concern about their missing out on the biggest ones. During the first quarter, 19% of the 67 initial public offerings on the New York Stock Exchange (NYX) , the Nasdaq Stock Market (NDAQ) and the American Stock Exchange were foreign-based, […]

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Cox Says SEC Will Ease Sarbanes-Oxley Burden, Rebuffing Critics

from Bloomberg U.S. Securities and Exchange Commission Chairman Christopher Cox said the agency’s attempt to scale back the Sarbanes-Oxley Act will shrink corporate expenses, countering criticism that the revisions won’t go far enough to reduce burdens on business. “Investors want us to focus on the things that might affect the financial statements,” Cox, 54, said […]

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Foreign Firms’ Deregistration Rules Eased

from MarketWatch In a move designed to boost U.S. markets’ attractiveness to foreign companies, U.S. regulators voted Wednesday to make it easier for those companies to deregister themselves with the Securities and Exchange Commission. By unanimous vote, the SEC’s five commissioners approved a rule that would allow a foreign company to terminate its registration if […]

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Sucking It Up Over SOX

from cNet News When a venture capitalist grandee like Jim Clark speaks, Silicon Valley pays close attention. Netscape’s founder recently made a point about Sarbanes-Oxley regulations by announcing his departure from the board of directors at photo-printing site Shutterfly, where he served as chairman. In his resignation letter, he cited the “constraints” imposed by Sarbanes-Oxley […]

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Is Silicon Valley Strangled by SOX?

from cNet News The Sarbanes-Oxley Act might be meant to guard against massive white-collar scandals, but the resignation of a high-profile tech veteran suggests the law may also be restricting efficiency atop Silicon Valley’s corporate ladder. Earlier this month, venture capitalist and Netscape founder Jim Clark announced his departure from the board of directors at […]

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Four More Ways to Fix Sarbox

from Corporate Board Member Board members and corporate executives have devoted vast amounts of time, effort, and money to revamping governance and financial-reporting structures to comply with the Sarbanes-Oxley Act of 2002. As we move into the new law’s fifth year, two big questions are being asked with growing passion. First, was it worth it? […]

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Rewarding Corporate Honesty

from Boston Globe SMALL PUBLIC companies have been bristling under the Sarbanes-Oxley Act, the post-Enron law intended to restore trust in corporate financial reporting. The Securities and Exchange Commission plans to relieve these small companies of some of the act’s requirements. Presumably, the costs imposed on these corporations outweigh the benefits to investors, so some […]

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SEC Eases Delisting for Foreign Companies

from IHT It will be much easier for foreign companies to withdraw their securities from American public markets, so long as those securities primarily trade outside of the United States, the U.S. Securities and Exchange Commission has indicated. Many companies have asked to withdraw, maintaining that doing so would save them money and that American […]

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The SEC Opens Up SarbOx

from BW Online Businesses that have been agitating for less stringent oversight of financial compliance regulations will get a first taste of relief in the next two weeks, when the Securities & Exchange Commission and the Public Company Accounting Oversight Board unveil a plan for streamlining the day-to-day workings of the Sarbanes-Oxley Act of 2002. […]

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