No changes please, we're PR Newswire's Disclosure Advisory Board
PR NEWSWIRE has trotted out its Disclosure Advisory Board (DAB) to say that they do not see companies changing their disclosure practices any time soon in response to the US Securities and Exchange Commission’s (SEC) recent guidance for company websites. They have issued a statement that basically calls for companies to continue to use the [...]
SEC's new guidance for websites and blogs posted
THE US Securities and Exchange Commission (SEC) has published its 47-page interpretive release that explains how companies can use their websites and blogs to meet its requirements for public disclosure under Regulation FD. Here’s a Scribd version of the complete release, which can also be downloaded in PDF from the SEC’s website. See my initial [...]
US firms love e-proxy savings, but at what cost?
DESPITE the risk that they might be reaping short-term gains while laying the foundation for long-term pain, 566 US companies used notice-only e-proxy mailings for their shareholder meetings by the end of April. According to figures compiled by Broadridge Financial Solutions Inc., companies have saved about $132 million through lower print and mailing costs. Unfortunately, [...]
An analogy that's hard to miss
WHERE can you legally stuff the ballot boxes with votes from people who do not actually cast ballots? Where can you cling to your position by having those votes push you to a majority? Why, in America, of course. This happens in elections of corporate directors under something called broker non-votes, which the New York [...]
Is there a disclosure issue here?
TAKE a look at these news releases put out this week by two New York Stock Exchange-listed companies about awards they’ve received for their investor relations websites and their disclosure practices. The first is from Gol Linhas Aereas Inteligents SA, the airline firm listed on the NYSE under the symbol GOL. SAO PAULO, Brazil, April [...]
NYSE in disclosure dark ages
WHAT year is it? If you spend your life with your head buried in the New York Stock Exchange’s (NYSE) Listed Company Manual, you might be in a 10-year time warp. Last week, the NYSE issued reminder letters to its listed companies about their disclosure obligations this annual meeting season. Those letters, one for U.S. [...]
NYSE-TSE pact underscores need for global IR
THIS shouldn’t be news to anyone in the investor relations field, but the globalization of investor relations keeps rolling on apace as stock exchanges continue to link up. A key component of the cooperation agreement between the New York Stock Exchange and the Tokyo Stock Exchange announced yesterday is helping listed companies reach investors in [...]
For-profit stock exchanges abusing their power
THE inherent conflict of interest between stock exchanges’ unique regulatory status and their new standing as for-profit companies is causing problems for US regulators. Critics are questioning separate proposals by the New York Stock Exchange (NYSE) and NASDAQ to raise fees for services that are mandated by the Securities and Exchange Commission or the exchanges’ [...]
Another newswire sold! Sixth deal this year.
IN THE sixth newswire deal this year, Canada’s second largest news release distributor CCNMatthews is being acquired by the private equity arm of Canadian pension fund OMERS. The cash deal, terms of which were not disclosed, will also see Manulife Capital, the private equity group of insurer Manulife Financial, take a minority stake. CCNMatthews, which [...]
Why boards must get web savvy
AS the power struggle between big shareholder groups and powerful business interest seems destined to intensify, corporate boards must move to strengthen their communication capabilities or risk being sidelined in the debate. The battle lines are being drawn between institutional investors determined to gain greater access to corporate boards and the business lobby rallying to [...]
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