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But Does She Get a Key to the Bathroom?

porta.jpgOne of the best things about making partner is that, if you’re lucky, you’ll end up on a board of directors someday. You get a nice chunk of change for sitting in some meetings pretending like you’re responsible for a company. Pretty simple.
Just like Sue James, a former E&Y partner. She was introduced as one of the new directors at Yahoo! The 8-K filed by Yahoo lays out her comp:

Ms. James will participate in the current director compensation arrangements applicable to non-employee directors. Under the terms of those arrangements, Ms. James will receive an annual retainer of $80,000 for her service on the Board, an additional annual retainer of $35,000 for serving as Chair of the Audit Committee of the Board, and will participate in Yahoo!’s other compensation programs for its non-employee directors. In addition, Ms. James is expected to receive in February, subject to Board approval, a grant of restricted stock units under the Company’s 1996 Directors’ Stock Plan with the number of such units to be determined by the Board at the time of the grant

Not too shabby. The filing doesn’t outline her rights to the facilities but for that kind of money she could, at the very least, arrange to have a rent-a-john parked outside Yahoo! HQ.

SEC Promises to Suck Less Post-Madoff

140px-United_States_Securities_and_Exchange_Commission.pngIt what amounts to a serious case of too little, too late, the SEC says that it will do more to protect investors in the wake of the Madoff scandal.
M. Schape and Co. would like you all (House Financial Services Committee) to know that they have been busy though. Working late. Working weekends. Working hard:

regulatory proposals include restricting short-selling in down markets, strengthening oversight of mutual funds, tightening scrutiny of investment advisers and making it easier for shareholders to seat directors on company boards. The S.E.C. is also working to identify emerging risks to investors, including so-called dark pools, or automated trading systems that do not publicly provide price quotes, Ms. Schapiro said.

See? Doesn’t that make you feel better? We’re the SEC, getting better at being less clueless since 2009.
S.E.C. Plans to Protect Investors More Post-Madoff [DealBook/NYT]