- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Council of Institutional Investors is expressing “deep concern” about Lyft’s initial public offering filing, because it implemented a dual-class share structure lacking “sunset provisions to unwind it within a reasonable time period.”
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Among the enforcement actions issued by the Treasury Department’s Office of the Comptroller of the Currency in August, two banks were separately penalized for deficiencies in anti-money laundering and Bank Secrecy Act compliance and board oversight.
Ridesharing company Lyft agreed to pay a $10 million penalty to settle allegations by the Securities and Exchange Commission it failed to disclose a pre-initial public offering stock deal that netted a member of its board millions of dollars.
Companies continue to improve their reporting against the U.K.’s Corporate Governance Code, but the lack of detail about the outcomes and impacts of governance policies hampers proper understanding of how risks are being managed.
