Is the CEO Pay Disclosure Rule Still Alive? And: SEC Takes On 'Fake News'
CEOs are getting antsy about complying with an SEC rule that would expose compensation divides at companies. The SEC recently took on a "fake news" scheme. Federal trade regulators this week adopted an indemnity policy to protect its employees who get sued. And the Consumer Financial Protection Bureau's taking heat from an unlikely source: the National Credit Union Administration. This is a roundup of regulatory and compliance news from ALM and around the web.
The U.S. Attorney's Office for the Eastern District of New York has added 21 more counts to its corruption indictment against Nassau County Executive Edward Mangano and the former top elected official of a Long Island municipality in a kickback scheme involving a local restauranteur.
The Consumer Financial Protection Bureau has returned billions of dollars to consumers while confronting abuses carried out by large banks, mortgage lenders and law firms—successes that are reflected in the agency's court record and settlements. But the CFPB has also suffered a string of setbacks this summer. Proponents of the agency caution not to read too much into the losses—the CFPB, they say, is willing to litigate. Still, others see an agency that's still pushing the limits of its authority.
The state’s Court of Appeals ruled that the Battery Park City Authority is a government entity and didn’t have legal standing to challenge Jimmy Nolan’s Law, a 2009 state law that gave workers who toiled in the aftermath of the terrorist attacks on the World Trade Center towers on 9/11, an extra year to file claims against the authority.
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