Archive
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The week in GRC: SEC approves Reg SK changes, and Storebrand divests over corporate lobbying
This week’s governance, compliance and risk-management stories from around the web – The Wall Street Journal reported that, according to data provider MyLogIQ, 87 percent of companies in the S&P 500 opted for a virtual AGM this year compared with 23 percent of meetings held remotely in 2019. Companies are finding virtual AGMs to be cheaper and less time-consuming, but some shareholders complain they don’t get as much time to ask their questions. Remote investor events held by companies in the S&P 500 this year ran for an average of 32 minutes, seven minutes shorter than in-person shareholder meetings in…
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Chinese companies face new US listing challenges
Jeffrey Cohen and Doug Davison examine looming regulatory hurdles for US-listed Chinese companies Chinese companies listed in the US are facing a range of serious regulatory challenges right now. Not only has the US government taken a hostile position toward China in general, but a series of actions – by the Trump administration, Congress and Nasdaq – over the summer may also soon force them to make some difficult decisions with respect to their US listings. China-based accounting firms that audit US-listed companies have long refused to allow the PCAOB to inspect their work papers, as is required by the…
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Pacific Life picks next general counsel
Jay Orlandi joining the company from Transamerica Jay Orlandi will join Newport Beach, California-based Pacific Life as its next general counsel on November 2. Orlandi is moving to Pacific Life from Transamerica, where he has been executive vice president and COO with responsibility for all business support functions such as legal, communications, human resources, corporate development, M&A, strategy, data analytics, information security and marketing. Orlandi joined Transamerica in 2005. He was general counsel for four years before being promoted to chief legal and administrative officer in 2018 and to COO last year. He recently served as acting CEO for Transamerica’s…
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Using waivers to curb Covid-19 legal exposure
Companies should consider using a waiver to limit potential liability to pandemic-related claims, say Erin Bosman, Erin Lupfer and Julie Park As states ease stay at home orders and individuals return to places of work and play, businesses are working hard to reduce the risk of transmission among their employees and customers. In addition to addressing compliance with health and safety guidelines, companies should think about other proactive steps that can reduce the risk of liability based on the transmission of Covid-19. One way to do so is through a liability waiver. Liability waivers are a familiar sight for many…
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Clever Leaves hires general counsel before going public
David Kastin was most recently general counsel and corporate secretary at The Vitamin Shoppe Multinational pharmaceutical-grade cannabis company Clever Leaves has appointed David Kastin as general counsel and corporate secretary. In his new role, Kastin oversees the company’s global legal activities and policies while supporting the CEO and board as Clever Leaves prepares to become a public company. Blank-check company Schultze Special Purpose Acquisition Corp (SAMA) earlier this month described a proposed business combination through which a newly formed holding company will acquire SAMA and Clever Leaves with the expectation of becoming a Nasdaq-listed public company. Kastin was most recently…
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Turning Point Brands names general counsel successor
James Dobbins to retire on October 31 after more than two decades with the firm NYSE-listed Turning Point Brands has picked Brittani Cushman to be its next general counsel. James Dobbins, who is senior vice president, general counsel and secretary with the company, will retire on October 31 after more than two decades leading Turning Point Brands’ legal and governance functions. Cushman is currently senior vice president of external affairs in the company’s legal department. She becomes deputy general counsel immediately, working with Dobbins on the transition before he departs. She joined Louisville, Kentucky-based Turning Point Brands as director of…
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Lead the moment with insights from the premier global governance summit
Sponsored content As organizations continue to face unique challenges and identify new opportunities, having access to the best governance and industry knowledge is crucial to driving change and charting the path forward. Similarly, sharing with and learning best practices and insights from peers is invaluable as organizations navigate the ever-changing governance landscape. Virtual governance event is complimentary for attendees On September 17 and 18, Diligent is hosting the Modern Governance Summit, the world’s largest virtual governance event, free of charge to attendees. The event will provide insights, best practices, product innovations, peer-led discussions and unique networking opportunities for individuals and…
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The week in GRC: DoJ issues rare FCPA opinion, and study finds frustrations with virtual AGMs
This week’s governance, compliance and risk-management stories from around the web – CNBC reported that, according to a court filing, former McDonald’s CEO Steve Easterbrook said the company’s lawsuit accusing him of fraud and trying to claw back an estimated $42 million of his compensation was ‘meritless’ and ‘misleading.’ McDonald’s has sued Easterbrook, alleging that he committed fraud and lied during the company’s probe into a relationship he had with an employee. The company said it found three alleged other relationships with employees he did not disclose before he was fired. McDonald’s is seeking to claw back the compensation he…
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Ceres highlights general counsel role in climate lobbying efforts
Report argues for having governance systems to help align lobbying efforts across corporate structures General counsel have an important role in ensuring governance tools are in place to align their companies’ direct lobbying – or indirect lobbying via industry groups – with climate science and the systemic risks posed by the climate crisis, according to a new report. Non-profits including Ceres late last year released an open letter to US CEOs calling for companies to adopt a framework centering on a science-based climate policy agenda in line with an increase in global temperatures of 1.5° C scenario. The letter asked…
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Coalition offers blueprint for boosting board diversity
Pressure for change has intensified in part from the unequal effects of Covid-19 BankUnited has hired Kevin Malcolm as senior executive vice president and general counsel, effective September 14. In his new role Malcolm will be responsible for overseeing the NYSE-listed company’s legal and compliance functions. He will succeed Michael Alford, who is leaving the financial services industry to pursue his ordination as a priest in the Episcopal Church, according to BankUnited. Malcolm will join Miami Lakes, Florida-based BankUnited from VeriFone, where he has been vice president and head of legal for Europe, the Middle East and Africa having previously…