Treasury, Interim Final Rule: Tarp Capital Purchase Program (2008) resource National Regulations OCEG Reviewed
This interim rule, promulgated pursuant to sections 101(a)(1), 101(c)(5), and 111(b) of the Emergency Economic Stabilization Act of 2008, Division A of Public Law 110– 343 (EESA), provides guidance on the executive compensation provisions applicable to participants in the Troubled Assets Relief Program (TARP) Capital Purchase Program (CPP). Section 111(b) of EESA requires financial institutions from which the Department of the Treasury (Treasury) is purchasing troubled assets through direct purchases to meet appropriate standards for executive compensation and corporate governance.
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Seeking to define SRI (2008) resource Articles OCEG Reviewed
Global Pensions, August 29, 2008
Despite being on the agenda of almost every pension fund and asset manager, there is a marked lack of consensus on SRI. Universally acknowledged now as part of the investment strategy of almost every pension fund, socially responsible investment (SRI) is still an area where there is surprisingly little consensus on both its definition and the approaches available to ensure companies’ practices are in line with investors’ values and beliefs.
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Talking Governance: Board Shareowner Communications on Executive Compensation (Deloitte, Millstein Center, 2008) resource White Papers OCEG Reviewed
Abstract: Shareowners and boards have been actively debating the need for better dialogue on company-specific governance matters. The dialogue has been reenergized by the proliferation of "say on pay" proposals calling for an advisory vote on executive compensation. Despite this call for action, there has been very little analysis focused on the practical application of board-shareowner communication models.
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ICC Guidelines on Whistleblowing (2008) resource White Papers OCEG Reviewed
International Chamber of Commerce:
The purpose of these Guidelines is to help companies establish and implement internal whistleblowing programs, by setting forth practical indications, that can serve as a useful point of reference, while meeting, as much as possible, the objections formulated in certain countries about some aspects of a whistleblowing system. These Guidelines are based on the broad experience and practice of ICC member companies across a wide range of sectors and jurisdictions.
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Whistleblower Claims Arbitrable Under SOX, 2nd Circuit Determines (2008) resource Articles OCEG Reviewed
Claims under the whistleblower protection provision of the Sarbanes-Oxley Act are arbitrable, the 2nd U.S. Circuit Court of Appeals ruled.
See Guyden v. Aetna Inc., 06-4954-cv
New York Law Journal, October 6, 2008, as posted at Law.com.
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Asia-Pacific Region at the Privacy Crossroads (2008) resource International Materials OCEG Reviewed
Many Asia-Pacific countries are members of regional groupings and are unlikely to develop privacy regulation without consideration of global and regional standards. Smaller countries in particular are careful to align their domestic regulations with regional and international developments. The protection of privacy in the region is not uniform, although some clear trends are emerging.
This section summarises the general approach being taken in each country (full details appear in Appendix 1 – National Laws).
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Privacy Guide - Asia and the Pacific (2007) resource International Materials OCEG Reviewed
Given the disparate nature of economies and cultures in Asia and the Pacific islands it is unsurprising that there's wide range of legislation (or lack of legislation) and practice compared to Europe.
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GAO, Defined Benefit Pension Plans: Guidance Needed to Better Inform Plans of the Challenges and Risks of Investing in Hedge Funds and Private Equity (2008) resource Research / Studies OCEG Reviewed
Millions of retired Americans rely on defined benefit pension plans for their financial well-being. Recent reports have noted that some plans are investing in ‘alternative’ investments such as hedge funds and private equity funds. This has raised concerns, given that these two types of investments have qualified for exemptions from federal regulations, and could present more risk to retirement assets than traditional investments.
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Deloitte's Center for Corporate Governance, Executive Compensation, Articles Collection resource Articles OCEG Reviewed
The SEC's 2007 final executive compensation disclosure rules provide for enhanced disclosure of executive and director compensation, related-person transactions, director independence, and other corporate governance matters. As the final SEC rule states, the intent is "to provide investors with a clearer and more complete picture of the compensation earned by a company’s principal executive officer, principal financial officer and highest paid executive officers and members of its board of directors.
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DOL/EBSA, Proposed Rule and Notice - Investment AdviceParticipants and Beneficiaries (2008) resource National Regulations OCEG Reviewed
CFR Parts Affected: 29 CFR Part 2550
With the growth of participant directed individual account plans, there has been an increasing recognition of the importance of investment advice to participants and beneficiaries in such plans. Over the past several years, the Department of Labor (Department) has issued various forms of guidance concerning when a person would be a fiduciary by reason of rendering investment advice and when the provision of investment advice might result in prohibited transactions.
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