On June 30, Congress gaveled out for the July 4 recess after postponing a critical vote to begin debate on an Affordable Care Act (ACA) repeal-and-replace bill. Senate Majority Leader Mitch McConnell (R-KY) and the GOP caucus have worked for the last two months in countless hours of behind-the-scenes meetings on what many believe to be a long-shot effort to unite 50 of the 52 Republican senators.
This week we highlight an article by Globe St. which features a Q&A session with David Phelps on thriving hotel sub-brands and the concern about overbuilding. With many new brands being introduced, daily rates are either flat or declining in some markets and the oversupply could also carve into hotel chains’ loyalty clientele. This dynamic could also impact the ability to refinance down the road. David discusses these issues and shares how he’s guiding clients on development expectations.
This week we highlight an article by Corporate LiveWire on the trends occurring within traditional film financing methods. Due to the changing markets, producers have started relying more heavily on international co-production arrangements to fund their projects which have created a necessity for filmmakers to create content that can appeal to a global audience. However, any formula for developing films and other content that will find success internationally and across various cultures remains elusive. This article will provide an overview of the importance of creating content that can be successful across geographic and cultural boundaries.
This week we highlight KPMG’s audit committee survey findings on challenges and priorities in the year ahead. It’s hardly surprising that most audit committees point to risk management as the top challenge, given expectations for slow growth and economic and political uncertainty in the US and around the world, technology advances and business model disruption, cyber threats, continued regulatory scrutiny, and investor demands for transparency.
SEC scrutiny: Monitor the SEC’s increased scrutiny and more frequent enforcement actions, including whistleblower developments, guidance on non-GAAP measures and tougher positions on insider trading
On October 18, 2016, the Staff of the Division of Corporation Finance (Division) of the Securities and Exchange Commission (SEC) released new Compliance & Disclosure Interpretations (C&DIs) for the controversial pay ratio rules, which were approved by the SEC on August 5, 2015. The pay ratio rules, which are found under Item 402(u) of Regulation S-K, require U.S. public companies to disclose (i) the median of the annual total compensation of all employees of the registrant (except the chief executive officer (CEO)), (ii) the annual total compensation of the CEO and (iii) the ratio of these two amounts. Companies will be required to disclose this pay ratio information for their first full fiscal years beginning on or after January 1, 2017. Accordingly, companies with a December 31 fiscal year-end must present the pay ratio disclosures beginning with their Form 10-Ks or proxy statements filed in 2018.
This week we highlight a report by the EY Center for Board Matters on “Audit committee reporting to shareholders in 2016”, discussing audit committee-related proxy disclosures by Fortune 100 companies. The report details the continued adoption of enhanced disclosures by audit committees by supplementing mandatory disclosures with additional voluntary information.