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.
Special Early Bird Rates – Act by Tomorrow, April 15th: Register by April 15th to take advantage of this discount.
US Sentencing Commission: Changes Requirements for Effective Compliance & Ethics Programs
Last week, the US Sentencing Commission voted to modify the Federal Sentencing Guidelines for organizations, including the provisions that set forth the attributes of an effective compliance and ethics program. These changes take effect on November 1st.
As noted in this Gibson Dunn memo, after considering a number of proposed changes to these Guidelines, the Commission voted to:
– Enhance the report obligations from a compliance officer to the board of directors in order for the compliance program to be deemed effective in all circumstances;
– Clarify the steps a corporation must take to meet the Commission’s requirement for proper remediation in the event criminal conduct occurs;
– Reject the proposed language that would have mentioned, for the first time, the appointment of monitors as a possible component of the remediation requirement or, separately, as a possible condition of probation for a convicted corporation; and
– Reject language under consideration that would have given document retention policies unique prominence in the list of compliance program requirements.
We’ll be posting memos on this development in our “Sentencing Guidelines” Practice Area.
The Carol Burnett Show: Takes On Discount Airlines
I got nostalgic watching this skit from the fantastic Carol Burnett Show from my youth about the experience of “no frills” airline travel. Carol, Tim Conway, Harvey Korman. I love it when Carol kicks Tim for having his foot on the carpet…
– Broc Romanek