Two former senior executives of an aircraft communications manufacturer agreed to settle SEC charges of knowingly violating the internal controls and books and records provisions of the federal securities laws, and causing similar violations by the company. According to the SEC Order, then-CEO and President of Panasonic Avionics Corporation ("PAC"), Paul A. Margis allegedly participated in a plan in which PAC offered a consulting position to a government official who helped PAC retain business from a state-owned airline. The SEC claimed that Mr. Margis allowed PAC to offer the official a

The SEC approved final rules that require companies to disclose practices or policies on the ability of employees or directors to engage in hedging transactions with respect to company equity securities. The final rules implement Exchange Act Section 14(j), which was enacted by Section 955 of the Dodd-Frank Act. Specifically, the final rules require disclosure of hedging practices in full, or a summary of those practices or policies that include hedging transactions that are permitted. Under the final rules, if the company does not have any policies or practices, the company must disclose that

The CFTC notified self-regulatory organizations ("SROs") of the fees that it will charge for reviewing their rule enforcement programs in 2018. The fees, which are adjusted annually, are assessed to recover the costs incurred by the CFTC in conducting such reviews as part of its oversight function. Each SRO is required to remit the applicable fee electronically before February 11, 2019.

The Basel Committee on Banking Supervision (the "Committee") proposed revisions to leverage ratio Pillar 3 disclosure requirements. Pillar 3 seeks to foster market discipline through regulatory disclosure requirements. In a consultative document, the Committee explained that the Basel III leverage ratio standard consists of a three percent minimum level that banks with which must comply at all times, and is "a buffer for global systemically important banks and a set of public disclosure requirements." For the purpose of disclosure requirements, banks must report the leverage ratio on a quarter

Banking agencies proposed increasing the major assets prohibition thresholds for management interlock rules.