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BUSINESS
December 19, 2002 | From Bloomberg News
The Securities and Exchange Commission proposed rules Wednesday that would require top corporate executives to file electronically reports of their trades of company stock. The proposed rules, passed unanimously, also call for companies to post the information on their Web sites. The reports would be filed by all corporate officers and directors and owners of more than 10% of a company's shares. The SEC said the new system could be working by spring.
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BUSINESS
December 19, 2002 | Walter Hamilton, Times Staff Writer
Government regulators and Wall Street investment banks are nearing agreement on a comprehensive settlement of probes into tainted stock research and could announce a tentative deal within the next few days, a source close to the matter said Wednesday. Regulators have engaged in feverish negotiations this week with a handful of brokerage firms that had been reluctant to pay the penalties sought by regulators.
NATIONAL
July 31, 2002 | From Reuters
Democratic leaders said Tuesday they were winning the battle of ideas with Republicans, accusing President Bush of failing to respond to a wave of corporate scandals and investor uncertainty. "George W. Bush seems to know that things aren't working, so he talks about it and talks about it and talks about it, but he doesn't do anything about it," House Democratic leader Rep. Richard A. Gephardt of Missouri told a gathering of centrist Democrats.
BUSINESS
July 30, 2002 | Bloomberg News
The Securities and Exchange Commission said it has posted a new Web site naming executives who have certified the accuracy of their companies' financial statements in compliance with a new rule. The rule requires the chief executives and chief financial officers of 947 U.S. companies to attest that financial reports filed with the agency are accurate and complete. The certifications are due by the close of business on the first day on or after Aug.
BUSINESS
July 28, 2002 | James Flanigan
The truth about the reforms being rushed into law by Congress or commanded by the New York Stock Exchange is that they will shift power and influence to the true owners of U.S. public companies. The owners are the more than 100 million Americans who hold more than $5 trillion worth of company stock through their pension funds, retirement plans and individual retirement accounts.
BUSINESS
November 12, 2002 | From Associated Press and Times Staff
The new board to oversee the accounting industry, steeped in controversy over the selection of former FBI and CIA Director William Webster as its chairman, plans to hold its first meeting behind closed doors Wednesday. The controversy over Webster already has brought the resignations of Harvey L. Pitt, chairman of the Securities and Exchange Commission, and Robert Herdman, the SEC's chief accountant.
NATIONAL
November 12, 2002 | From Times Wire Reports
The chairman of the Securities and Exchange Commission's new board to oversee the accounting industry may step aside because of questions about his involvement with a failed investment firm. Former FBI Director William H. Webster told the Wall Street Journal that he was concerned about "his value to the board at this point." But Webster said he had not made a final decision to quit. "I don't have to prove anything to myself," Webster told the Journal. "I just have to do what I think is right."
BUSINESS
November 20, 2002 | From Bloomberg News
As expected, the SEC on Tuesday proposed new rules governing corporate accounting, including a plan to bar auditors from providing corporate clients with consulting services that may pose conflicts of interest. The proposals implement prohibitions against auditors providing information technology and eight other consulting services that were detailed in a federal corporate governance law enacted in July.
BUSINESS
October 22, 2002 | Associated Press
The White House defended on Monday its request for Congress to give the Securities and Exchange Commission $200 million less than was demanded by a new law to fight corporate fraud. Democratic lawmakers and consumer advocates assailed the Bush budget request as an attempt to undercut the corporate crackdown law enacted this summer in response to a wave of accounting scandals.
BUSINESS
August 12, 2006 | From Bloomberg News
The Securities and Exchange Commission proposed a revamped rule Friday that would require companies to provide compensation details for top-paid nonexecutives who make "significant policy decisions." The proposal would for the first time require companies to disclose the pay of as many as three nonexecutive employees in addition to the compensation of five top managers.
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