SEC Clarifies Effect of Whistleblower Definitions as New Bill Pushes Extension of Time to Enforce Securities Law Violations

On August 4, 2015, the Securities and Exchange Commission (the SEC) clarified a discrepancy in the interpretation of the securities laws regarding whether an individual who reports securities law violations must report misconduct to the SEC in order to constitute a “whistleblower,” who is entitled to protection under the anti-retaliation provisions in the 2010 Dodd-Frank […]

SEC Releases Final Rules On Compensation Committee Independence And Compensation Advisers

On June 27, 2012, the Securities and Exchange Commission published new Rule 10C-1 under the Securities Exchange Act of 1934 to implement Section 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.  Section 952 added Section 10C to the Exchange Act, which requires the SEC to adopt rules to direct the […]

Citigroup Board Faces Challenges After Shareholder Say-on-Pay Vote

As the media have reported recently, the shareholders of Citigroup rejected CEO Vikram Pandit’s $14.9 million compensation package at Citigroup’s 2012 annual meeting.  The vote was required as a result of the amendments to the federal securities laws implemented by the Dodd-Frank Act of 2010, which require public companies to hold advisory shareholder votes to […]

SEC Adopts Amendments To Accredited Investor Standards To Implement Requirements Of Section 413(A) Of The Dodd-Frank Act

The United States Securities and Exchange Commission recently adopted amendments to the Accredited Investor Standards in its rules under the Securities Act of 1933 to implement the requirements of Section 413(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.  Section 413(a) requires the definition of “accredited investor” in the Securities Act of 1933 […]