Business Roundtable (BRT) today issued its Principles of Corporate Governance 2012, which update its April 2010 principles. The principles were updated to “reflect the new circumstances of Dodd-Frank Wall Street Reform and Consumer Protection Act implementation and the continuing evolution of best practices.” The new Principles of Corporate Governance include important updates in five key areas:
Archives for June 2012
34 Questions Concerning the U.S. IPO Market
On June 19, the Committee on Oversight and Government Reform of the U.S. House of Representatives asked the Securities and Exchange Commission to answer 34 questions concerning the initial public offering market in the United States. The Committee’s inquiry came less than three months after the enactment of the JOBS Act, which, among other things, eased regulatory restrictions on initial public offerings by Emerging Growth Companies.
U.S. Securities and Exchange Commission Adopts Rules Implementing Dodd-Frank Requirements for Listing Standards Applicable to Compensation Committees
The SEC today adopted rules to implement Section 952 of the Dodd-Frank Act, requiring stock exchanges to adopt listing standards that:
- impose independence requirements on compensation committee members,
- authorize compensation committees to retain independent advisers, and
- require compensation committees to assess the independence of any consultant, legal counsel or other adviser that provides advice to the compensation committee, other than in-house counsel.