SEC To Address Backdating

Law360, New York (June 27, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission plans to provide guidance this summer on the granting of stock options, in the wake of dozens of companies disclosing internal investigations, subpoenas and SEC inquiries into their options-granting practices.

While the SEC will vote on new rules governing executive compensation in general, the guidance will deal solely with backdating and other manipulative tactics pertaining to stock options, according to an SEC spokesperson. Tactics similar to backdating include so-called “springloading,” in which an options grant is timed to either capitalize...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.