The report analyzed board committee charters at S&P 100
firms and found that only 65 companies in the S&P 100 have
board committees with some level of responsibility for oversight of
corporate responsibility concerns. One of the most notable
statistics from the study was the finding that less than 50% of
those 65 boards monitor and provide recommendations on CSR trends
Ultimately, this lack of focus on trends is troubling. Looking
at developments in the CSR field over the previous decades, it is
not hard to see that stakeholder expectations in the areas of
environmental and social standards have often lead to the
developments of new regulations, legislation, and lending
guidelines. As I noted in the article,
Understanding key trends is an
integral component of effective long-term strategy development and
can help ensure that companies have the capacity to respond to
concerns when they arise. Companies regularly seek to identify
trends in consumer preferences and in regulatory environments.
Companies should exercise the same diligence in identifying future
stakeholder expectations with regard to social and environmental
performance. Stakeholder expectations in the area of CSR frequently
ask companies to go "beyond compliance" with existing
legal and regulatory standards. At the same time, these
expectations are often predictive of the future content of legal
and regulatory requirements.
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stimates place the amount of money illegally "laundered" through
United States banks in the hundreds of billions of dollars each year.1
For more than five decades, the U.S. government has attacked money
laundering, in part, through anti-money laundering ("AML") disclosure,
monitoring, and reporting requirements placed on financial institutions.
We recently notified you of the FDIC’s Financial Institution Letter 47-2013 , which urges directors and officers of financial institutions to examine their institutions’ directors and officers (D&O) insurance coverage to ensure adequate protection for themselves as well as their depositors and shareholders.
Comments made by Kara N. Brockmeyer, the Securities Exchange Commission’s chief of the Foreign Corruption Practices Act unit, and Charles E. Duross, deputy chief of the Department of Justice’s FCPA unit, at the recent International Conference on the FCPA suggest that both agencies are increasing their scrutiny of possible FCPA violations for the next year.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Last Friday’s edition of the New York Law Journal features an article in its "Outside Counsel" column authored by Mintz Levin colleagues Andrew Roth and Kim Gold, entitled Cracking Down on Executive Compensation for Not-for-Profits.