One of the challenges for companies seeking to manage the adverse human rights impacts of their operations is how to deal with impacts that are most directly tied to business partners, suppliers, and even governments. Companies have varying degrees of control over the actions of third parties, and yet the activities of third parties have the potential to expose companies to a range of reputational – and legal – risks.… More
Monthly Archives: July 2012
Burma (Myanmar) Sanctions Eased, but Companies Required to Report on Responsible Business Practices
On July 11, the U.S. government eased sanctions on financial services and new investment in Burma, while requiring that U.S. persons (including U.S.-organized entities) with cumulative investments in Burma exceeding $500,000 report on processes they have in place to address social and environmental impacts. This is the first time that the United States has explicitly used a sanctions regime to encourage responsible business practices. Despite the general easing of restrictions,… More
Board Oversight and Cybersecurity – What are the Risks to Your Company?
Does your board exercise proper oversight over cybersecurity risks? Directors and officers have fiduciary duties to protect the assets of their companies. This obligation covers digital assets, including corporate information, applications, and networks. The scope of the obligation is defined, in part, by laws and regulations that impose specific privacy and security obligations on companies.
The threats to digital assets are real, and companies are increasingly grappling with how best to manage network infiltrations,… More
Securities and Exchange Commission Sets Date for Final Hearing on Conflict Minerals and Revenue Transparency Rules
On August 22, the Securities and Exchange Commission ("SEC") will hold an open meeting to consider whether to adopt final rules implementing Section 1502 and Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Under the original statutory provisions, both rules were to have been issued by April 17, 2011. Draft rules were originally released in December 2010 and the final rules have been long-delayed. … More