There are 6 items today … SEC Rule Seen as Threat to Power of Chief Executives | Selling Out for Buybacks | HP probe puts spotlight on investigators | UK multinationals face ethical backlash from US investors | Companies give sneak preview of new SEC disclosure rules | Former SEC Chair Harvey Pitt on the New Compensation Rules
SEC Rule Seen as Threat to Power of Chief Executives
“Serious people believe that this is the beginning of separating the regular chief executive from the chairman,” said C. Meyrick Payne, a senior partner at the consulting firm Management Practice Inc., which specializes in mutual fund governance.
Selling Out for Buybacks
Buybacks can be trouble, though. Even companies that can fund them with cash reserves or manageable amounts of debt often find that buybacks don’t achieve their intended purpose of boosting a company’s stock price.
HP probe puts spotlight on investigators
One investigations specialist says, “we get asked a lot by fairly senior executives and lawyers who [want to access] private records and bank accounts.”
UK multinationals face ethical backlash from US investors
The petition under consideration by the SEC – and on which it is inviting public comment – would force companies or the issuing bank to give ADR holders the same rights as ordinary shareholders.
Companies give sneak preview of new SEC disclosure rules
A few St. Louis companies have given shareholders a sneak preview of the Securities and Exchange Commission’s new pay disclosure rules.
Former SEC Chair Harvey Pitt on the New Compensation Rules
Corporations need to restore public confidence in top management. A rational process for determining compensation, coupled with a clear explanation of what was done and why, is an excellent place to start.
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