SEC Commissioner Kathleen Casey Keynotes 2011 Annual Conference of the Society of Corporate Secretaries and Governance Professionals

COLORADO SPRINGS, Colo., June 24, 2011 /PRNewswire/ -- Kathleen L. Casey, Commissioner of the Securities and Exchange Commission, spoke at the National Conference of the Society of Corporate Secretaries and Governance Professionals today.  Ms. Casey discussed the challenges of the current regulatory environment and the state of play at the SEC with respect to the implementation of the Dodd-Frank Act.  She noted her concerns about the federalization of corporate law and increasingly prescriptive rules.  

Ms. Casey also highlighted other issues facing the corporate governance community, including recent whistleblower rules, proxy access, trading private shares on alternative trading platforms, and the need for a single set of high-quality accounting rules globally that incorporate International Financial Reporting Standards (IFRS) for U.S. issuers.  

At this year's Conference, the Society of Corporate Secretaries and Governance Professionals elected John A. Seethoff, Vice-President, Deputy General Counsel - Corporate of Microsoft Corp., as Society Chairman for the 2011-12 year. Mr. Seethoff  is responsible for managing the corporate secretary function, providing legal support to the company's board of directors, overseeing the company's corporate governance policies and practices, and supervising securities law compliance.

Kenneth L. Wagner of Peabody Energy Corporation was elected Chairman-Elect for 2011-12. Mr. Wagner is Vice President, Assistant General Counsel, Assistant Secretary and Chief Compliance Officer of Peabody Energy Corporation, and is chairing this year's National Conference.

The following Society members were elected to the Society's Board of Directors:

• Steven Shapiro, General Counsel & Corporate Secretary of Cole Taylor Bank
• Rhonda Brauer, Senior Managing Director of Georgeson, Inc., and former Corporate Secretary at the New York Times
• Carolyn Coffey, Senior Corporate Consultant for Corporation Service Company
• Kari Endries, Assistant Secretary & Managing Counsel, Chevron
• Virginia Fogg, General Counsel, Norfolk Southern
• Laurene Horiszny, Chief Ethics & Compliance Officer, BorgWarner
• Beverly O'Toole, Managing Director & Associate General Counsel, Goldman Sachs

Prominent sessions during the Conference focused on the Dodd-Frank Act of 2010, including issues such as implementing say-on-pay shareholder votes and whistle blowing rules.  "We look forward to working with the SEC, shareholders and other stakeholders in finding practical solutions that work on these and other matters," said Mr. Seethoff. Conference participants also discussed developments in private offerings, latest trends in company engagement with shareholders, risk oversight, and short-termism.

About the Society of Corporate Secretaries and Governance Professionals

Founded in 1946, the Society is a professional association of over 3,000 attorneys, accountants and other governance professionals who serve 2,000 public, private and not for profit companies of most every size and industry.  Its members support the work of corporate boards and executive management regarding corporate governance and disclosure, compliance with the corporate and securities laws and regulations, and stock exchange listing requirements.  The Society provides educational programs, develops best practices and provides data and constructive comments in response to legislative and regulatory requests for information about the practical implications and likely effectiveness of proposed changes in governance practices or regulations.

For inquiries regarding Society membership, services, and activities, please call 212-681-2000 or visit our website at www.governanceprofessionals.org.

SOURCE Society of Corporate Secretaries and Governance Professionals