Searching Content indexed under Corporate Governance by Kenneth Kohler ordered by Published Date Descending.
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The WorldCom and Enron Settlements
Earlier this month, outside directors of WorldCom and Enron agreed to use their personal funds to settle shareholder litigation arising from the collapse of their companies. In the WorldCom case, ten former directors agreed to supplement $36 million supplied by their D&O insurance by paying $18 million of their own money, or about 20% of their aggregate personal net worth (excluding certain assets such as their primary residences and retirement accounts) even though they collectively lost ab
United States
3 Feb 2005
SEC Adopts Final Rules for Asset-Backed Securities
On December 15, 2004, the Securities and Exchange Commission adopted a massive set of rules for asset-backed securities ("ABS") under the Securities Act of 1933 and the Securities Exchange Act of 1934 ("Regulation AB").
United States
27 Jan 2005
SEC Delays Final Accelerated Filer Phase-in Period and Defers Internal Control Over Financial Reporting Compliance Date for Smaller Accelerated Filers
In recognition of the difficulties that some public companies that are accelerated filers and their independent accountants are having in preparing to timely comply with the new internal control over financial reporting requirements, the Securities and Exchange Commission has deferred final implementation of two requirements applicable to accelerated filers.
United States
20 Dec 2004
California Amends Corporate Disclosure Act
On September 27, 2004, the Governor of the State of California signed into law Assembly Bill 1000, making changes affecting the substance and timing of the annual disclosure requirements under the controversial California Corporate Disclosure Act (the "California Disclosure Act") that was enacted in late 2002. The amendments took effect immediately and must be observed by all corporations that are incorporated or have qualified to do business in California.
United States
11 Nov 2004
SEC Proposes New Rules for Asset-Backed Securities
On May 3, 2004, the Securities and Exchange Commission proposed a massive set of rules for asset-backed securities ("ABS") under the Securities Act of 1933 and the Securities Exchange Act of 1934. The proposed rules aim to regulate ABS in four areas: (1) Securities Act registration, (2) disclosure under new Regulation AB, (3) communications during the offering process and (4) ongoing reporting requirements under the Exchange Act.
United States
25 May 2004
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