SEC eases social policy vote rule

Article Abstract:

The Securities and Exchange Commission (SEC) unanimously ruled on May 20, 1998, for companies to allow shareholder votes on significant social issues such as employment discrimination against homosexuals. The vote reverses a previous SEC decision in 1992 that permitted Cracker Barrel Old Country Store to block a vote proposed by Shareholders who wanted to ban job discriminations against homosexuals. The new SEC ruling is a response to the call of shareholder and activist groups on SEC to reverse what they considered a bad public policy.

Comment:

The SEC unanimously ruled on 5/20/98 for companies to allow shareholder votes on significant social issues

Stockholder data, Securities & Exchange Commisn, Article

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SEC chief criticizes on-line ads

Article Abstract:

Securities and Exchanges Commission Chmn Arthur Levitt has expressed concern about the advertising of some on-line investing brokerages which resembled commercials for lotteries. Levitt has asked the National Assn of Securites Dealer's regulatory unit to meet with ad agencies and discuss the ethical implications of some ads. Levitt noted that some ads create unrealistic expectations and might be stepping over the line and border on irresponsibility.

Advertising Agencies, Securities Brokerage, Investor Protection & Disclosure, Stockbrokers, Disclosure (Securities law), Investor relations

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Firestone, Ford lawsuits consolidated

Article Abstract:

Ford Motor Co and Bridgestone/Firestone Inc face consolidated personal injury and class-action lawsuits in pretrial hearings as decided by a panel of judges. Also, the judges selected Sarah Evans Barker, chief judge of the Southern District of Indiana, to preside over those hearings. The ruling consolidates 53 lawsuits against the two companies filed in federal courts and any cases filed later during the period the lawyers gather information.

Product Safety Regulation NEC, Ford Motor Co., Product safety, Safety regulations

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