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Regulatory Roundup

Congress Targets Pay as Challenges to Climate Rule and More Advance in Q2

By Alexandra R. Lajoux

04/30/2024

Legislation Regulation Directorship Magazine

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This mid-quarter NACD policy brief summarizes current legislative, regulatory, and legal developments impacting boards, and advises members of related NACD comment letters and other policy views.

Spring 2024 produced an uncertain rulebook for boards. While Congress is renewing its focus on executive pay, a court order has stayed the final climate disclosure rule mandated by the US Securities and Exchange Commission (SEC) and an official roundtable has surfaced strong opposition to pending guidance for auditing standards related to A Company’s Noncompliance With Laws and Regulations (NOCLAR)  proposed by the Public Company Accounting Oversight Board (PCAOB). These were just some of the regulatory developments affecting boardroom agendas early in the second quarter.

Gridlock continues to plague the 118th Congress in its second and final year. The less than 1 percent success rate for bills as reported last quarter continues: Of more than 11,800 legislative bills proposed so far in this Congress, only 42 have been signed into public law, according to Congress.gov, and none of these directly affect the work of corporate boards. The artificial intelligence (AI) bills detailed in the last Regulatory Roundup remain pending, with a few more joining them—notably one proposed by Rep. Andy Biggs (R-AZ) calling for the use of AI in reviewing federal regulations that are “excessively burdensome.”...

Photo Credit: STOCK.ADOBE.COM/ OZERKINA

 

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Alexandra R. Lajoux
Alexandra Reed Lajoux, Ph.D., M.B.A., is a founding principal of Capital Expert Services, LLC (CapEx). She serves NACD as chief knowledge officer emeritus.

 

This article is from the Spring 2024 issue of Directorship.

 

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