GRC News Roundup: Goldman Sachs, Morgan Stanley Face CFTC Review; Teva, Servier Antitrust Probe
After testing out a new format for the daily roundup of news links, using Twitter Tools to compile daily all of the links posted in the CCI Twitter account, we are reverting back to the old method. We may still oscillate back and forth some, but the thinking is that the way we used to present the news (titles, excerpts, links) was more valuable for our readers. Your thoughts and comments on the issue are appreciated. Email me or leave a comment below.
And now, on with today’s roundup of relevant GRC news and events:
Goldman, Morgan Stanley Threatened by CFTC Review
“Goldman Sachs Group Inc. and Morgan Stanley may never have the same leeway in commodities as they did when oil reached a record $147 a barrel last year.
The Commodities Futures Trading Commission will consider greater regulation of oil, gas and other energy markets at hearings this month. It plans to review exemptions to trading limits that since the 1990s allowed Goldman and Morgan to build multibillion-dollar ventures in futures, swaps and over-the- counter markets.”
>>>read the entire article at Bloomberg
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Teva, Servier Face EU Antitrust Probe for Drug Delays
“Teva Pharmaceutical Industries Ltd., France’s Les Laboratoires Servier and other generic-drug makers face European Union antitrust investigations of agreements that may have delayed market entry of a cardiovascular medicine.
The investigations, which also include Krka Group d.d., India’s Lupin Ltd., Mylan Inc.’s Matrix Laboratories unit and Unichem Laboratories Ltd.’s Niche Generics unit, concern agreements that may have hindered the market entry of a generic version of Servier’s perindopril, a hypertension medication.
The probes come as the commission said in a report that companies use a variety of techniques to delay the introduction of generics “for as long as possible.” The commission, the EU’s executive arm, said it will continue to probe whether the use of patents to delay generics violates antitrust rules.”
>>>read the entire article at Bloomberg
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Indiana AG Shuts Down Companies Masquerading as State Agency
“Indiana Attorney General Greg Zoeller announced that Marion County Superior Court has issued a permanent injunction against Indiana Corporate Compliance, International Corporate Compliance Inc. and Papillon Global Marketing LLC, requiring those companies to stop misrepresenting themselves as a government agency to Indiana business owners.
The injunction requires the companies to immediately stop sending any written notices or transmissions that could reasonably be interpreted as a compliance notice from a government entity.”
>>>read the entire article at ClaimsJournal.com
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Worst and best in corporate governance
“Directors of medium-sized and mining firms often have too much money invested in their own companies, do not seek independent auditors and have no share-trading policies, according to a study of company documents by the University of Newcastle.
And newly-listed companies have ”dreadful” corporate governance structures in place because they are not used to the accountability of being a listed company, according to the study’s author, associate professor Jim Psaros.”
>>>read the entire article at Business Day
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Japan eyes U.K.-style takeover rules
“Japan should introduce British-style takeover rules that require someone bidding for more than 30 percent in a company to offer to buy all shares in the target, a senior government official said.
Hiroaki Niihara, director of the corporate system division at the Ministry of Economy, Trade and Industry, said the change would protect minority shareholders and eliminate the need for “poison pill” anti-takeover defense plans.”
>>>read the entire article at Reuters
Tags: Antitrust, Attorney General, corporate governance, Goldman Sachs, Japan, Morgan Stanley, Pharma Compliance, Takeover Rules
