In the case of corporate employee relocation, there are laws governing this move and they cover both the employee's rights and the rules any assisting entity has to follow. There are also ethical rules and regulations that control the conduct regarding all aspects pertaining to the entire relocation process and...
Federal monetary regulators published final rules for "Interagency Guidance on Nontraditional Mortgage Products" and "Credit Risk Management Guidance For Home Equity Lending". The rules are designed to curtail the rise in the risky business of "Nontraditional," "Alternative," "Exotic," even "Toxic" mortgages, including interest-only, payment-option, piggy-back, stated-income (no-doc) and other types...
"CC&Rs" is an acronym commonly used in the homeowner association industry. It means "Covenants, Conditions & Restrictions." It is used generically for any HOA rule or policy. But it's more complicated than that. In the HOA environment, there may be policies, procedures, rules, regulations and resolutions. All are necessary to...
Rule 10b-18 (the “Rule”) under the Securities Exchange Act of 1934 (the “Exchange Act”), provides issuers with a “safe harbor” from liability for stock market price manipulation under Sections 9a(2) and 10b of the Exchange Act and Rule 10b-5 under the Exchange Act, solely by reason of the manner, timing,...
On March 31, 2003, the Department of Labor (“DOL”) published proposed regulations that redefine the “white collar” exemptions under the Fair Labor Standards Act (“FLSA” or the “Act”). The proposed rules would substantially modify which employees are “exempt” from the minimum wage and overtime requirements of the FLSA, and would...
This article explains the FEDERAL REGISTER contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules. The Office of the Comptroller...
On April 9, 2003, the Securities and Exchange Commission issued a final rule, as directed by Section 301 of the Sarbanes-Oxley Act of 2002, directing the national securities exchanges and national securities associations to prohibit the initial or continued listing of securities of any listed company that is not in...
On April 9, 2003, the Securities and Exchange Commission SEC issued a final rule, as directed by Section 301 of the Sarbanes-Oxley Act of 2002, directing the national securities exchanges and national securities associations SROs to prohibit the initial or continued listing of securities of any listed company that...
This article is one in a series on issues raised by the Sarbanes-Oxley Act of 2002, SEC regulations, stock exchange and other self-regulatory organization requirements, and other corporate governance initiatives. On January 28, 2003, the Securities and Exchange Commission issued final rules pursuant to Section 208a of the Sarbanes-Oxley Act...
Section 407 of the Sarbanes-Oxley Act directed the SEC to issue rules that would require a company to disclose whether or not, and if not, the reasons why not, the audit committee of that company is comprised of at least one member who is a “financial expert.” On October 22,...
The article explains about the adopting rules and amendments requiring companies, other than registered investment companies, to include two new types of disclosures in their annual reports filed pursuant to the Securities Exchange Act of 1934. First, the rules require a company to disclose whether it has at least one...
The article is about the SEC that pushed through new rules to meet the Sarbanes-Oxley deadline; FASB added some guidance of its own in the article to support the concept. The organization that made the rules says that, it's a case of "give a little, get a little." The Securities...
The Securities and Exchange Commission voted to adopt rules to fulfill the mandate of Title II of the Sarbanes-Oxley Act of 2002, strengthen auditor independence and require additional disclosures to investors about the services provided to issuers by the independent accountant. Also, Section 201 of the Sarbanes-Oxley Act lists...
This article explains the 3 rules and amendments which The Securities and Exchange Commission has voted to adopt the following concerning provisions of the Sarbanes-Oxley Act of 2002. The rules are conditions for use of Non-GAAP financial information under section 401b and amendments to form 8-K under section 409, disclosure...
The Securities and Exchange Commission SEC has adopted final rules governing the use of non-Generally Accepted Accounting Principles GAAP financial measures. The paper highlights significant distinctions between the proposed and the final adopted rules. The material terms of the final rules are also summarized.
From the executive summary: ‘Most of the significant provisions of the Sarbanes-Oxley Act of 2002 require the Securities and Exchanges Commission SEC to adopt rules reflecting the mandates of Congress reflected in the Act. Congress gave the SEC limited time periods to adopt a variety of complex and far-reaching rules.’...
The article reads various topics like - the implications of new public company rules, stockholder approval for stock plans and specially the effects of Sarbanes-Oxley Act on private company's relationship with its accountants. Becoming familiar with the new corporate governance and disclosure rules applicable to public companies will help...
Tax-deferred retirement plans such as traditional IRAs, 401ks and Simplified Employee Pensions SEPs - have long been popular savings vehicles. Many people well know they generally can't withdraw money from these accounts before age 591/2 without paying a 10% penalty in addition to regular income tax. But they seldom consider...
The Sarbanes-Oxley Act of 2002 significantly has changed the regulatory environment for public companies. At open meetings held on January 22 and 23, 2003, the SEC approved new rules and rule amendments implementing some important provisions of the Sarbanes-Oxley Act. Kramer Levin attorneys summarize recent developments as they relate to...
Most of the provisions of the Sarbanes-Oxley Act, passed by Congress and signed by the President on July 30, 2002, require SEC rules for implementation. Under the Act, most of those rules were due by January 26, 2003. The SEC and its staff have worked at a feverish pace in...
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