Jim Clark, co-founder of internet icon
Communications, has resigned as chairman of online photo site Shutterfly
corporate governance regulations had ‘gone too far’.
In a letter to management released in a regulatory filing, Clark said one
reason for him resigning was due to constraints imposed on major shareholders by
the Sarbanes-Oxley securities law.
‘Sarbox (Sarbanes-Oxley) dictates that I not chair any committee due to the
size of my holdings, not be on the compensation committee because of the loan I
once made to the company, not be on the governance committee,’ Clark wrote.
‘It even dictates that some other board member must carry out the perfunctory
duties of the chairman,’ he added.
Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group