March 25, 2010

SEC Files Partially Settled Regulation FD Charges

Recently, the SEC filed partially settled charges against Presstek and its former CEO for Regulation FD and other disclosure violations. The SEC’s complaint alleges that the CEO selectively disclosed material non-public information regarding the company’s financial performance to the managing partner of an investment adviser who then traded on that information. The company settled by paying a $400,000 civil penalty to the SEC, after the company took some remedial measures. The SEC is still pursuing the former CEO.

This is the second Reg FD action that the SEC’s Enforcement Division has brought in the past six months after silence in this area for a while (here’s a blog about the last one). We are posting memos regarding this action in our “Regulation FD” Practice Area.

Early Bird Discount Ending Soon: “5th Annual Proxy Disclosure Conference” & “7th Annual Executive Compensation Conference”

With Congress moving quickly on financial regulatory reform, huge changes are afoot for executive compensation practices and the related disclosures – that will impact every public company. We are doing our part to help you address all these changes – and avoid costly pitfalls – by offering a special early bird discount rate to help you attend our popular conferences – “Tackling Your 2011 Compensation Disclosures: The 5th Annual Proxy Disclosure Conference” & “7th Annual Executive Compensation Conference” – to be held September 20-21st in Chicago and via Live Nationwide Video Webcast (both of the Conferences are bundled together with a single price). Here is the agenda for the Proxy Disclosure Conference (we’ll be posting the agenda for the Executive Compensation Conference in the near future).

Special Early Bird Rates – Act by April 15th: Register by April 15th to take advantage of this discount.

More on our “Proxy Season Blog”

With the proxy season in full gear, we are posting new items regularly on our “Proxy Season Blog” for members. Members can sign up to get that blog pushed out to them via email whenever there is a new entry by simply inputting their email address on the left side of that blog. Here are some of the latest entries:

– SEC Allows Banks to Omit AFSCME’s “Bonus Banking” Proposal
– Even More on “Diversity Policies: Do You Need One? Samples Available”
– Companies Allowed to Omit Proposals on CEOs on Pay Panels
– Why So Many Preliminary Proxy Statements This Year?
– Note to SEC: “Reasonably Likely to be Enacted”? You Have Got to Be Kidding!

– Broc Romanek