Danielle Benderly

The U.S. Department of Justice (DOJ) on March 3, 2023, unveiled a new pilot program and announced several important updates to its Evaluation of Corporate Compliance Programs (ECCP) regarding corporate compensation incentives and clawbacks. These updates build on and clarify Deputy Attorney General (DAG) Lisa Monaco’s policy announcements from September 2022 regarding corporate criminal enforcement.

The SEC recently published the updated version of its EDGAR Filer Manual that includes updates related to filing Forms 144 electronically on EDGAR, as required by the SEC’s final rules adopted back in June. This means the clock on the 6-month transition period from paper to electronic filings of Forms 144 is ticking—all Forms 144 must be filed electronically on EDGAR starting on April 13, 2023.

Twelve years in the making, the SEC adopted pay-for-performance (P4P) disclosure rules last week in the form of new Item 402(v) of Regulation S-K. Here’s the 234-page adopting release. And here’s the press release and fact sheet. In 2010, as part of the Dodd-Frank Act, the SEC was directed to adopt pay-for-performance rules. The SEC didn’t get around to proposing something until five years later. Then seven years after that, in January 2022, the SEC re-opened the comment period.