With the global financial crisis accelerating calls for regulatory reform in the United States, new plans for how best to revamp the U.S. system seem to emerge nearly every day. The latest to enter the fray of those offering their two cents on how to overhaul financial regulation is Commodity Futures Trading Commission Acting Chairman […]
Melissa Klein Aguilar
Posted inFrom the Archive
Survey: Economy Forcing Cos. to Evaluate Incentive Plans
Economic pressures are forcing many companies to take a hard look at their compensation and incentive programs to find ways to cut costs. However, many are still up in the air about making any major changes. That’s according to the results of an online survey of human resource executives and staff at more than 450 […]
Posted inRegulatory Enforcement
Cox: Int’l Enforcement Cooperation Has Been ‘Massive’
Amid continuing discussions among lawmakers and regulators about how to reform the U.S. financial regulatory system, the chairman of the Securities and Exchange Commission says enforcement, and in particular, cooperation with overseas securities regulators on enforcement matters, remains a top priority. The SEC has been working closely with its international regulatory counterparts to “coordinate our […]
Posted inRegulatory Enforcement
Ruling Increases Scrutiny of F-Cubed Lawsuits
Foreign issuers can breathe easier these days, thanks to a recent federal appeals court ruling that threw cold water onto the legal oddity of so-called “F-cubed” lawsuits in U.S. courts. Such lawsuits—disputes between foreign plaintiffs and foreign issuers over a foreign securities transaction that still somehow end up in U.S. courts—have been a growing concern […]
Posted inUncategorized
WKSIs Latest Victims of Wall Street Crisis
The recent turmoil on Wall Street is giving companies yet another reason to act quickly in re-filing their expiring shelf registration statements: Sudden drops in stock price may have endangered some companies status as large issuers. Specifically, businesses could lose their Well-Known Seasoned Issuer status if their market capitalizations have shriveled since the economic collapse […]
Posted inBoards & Shareholders
SEC Staff Posts New Guidance on Shareholder Proposals
The Securities and Exchange Commission has posted some must-read guidance for companies preparing for the upcoming proxy season.The Division of Corporation Finance staff has posted a legal bulletin providing guidance on common issues related to shareholder proposals under Rule 14a-8 of the Securities Exchange Act of 1934, which governs when a company must include a […]
Posted inFrom the Archive
White to Leave SEC at Year-End to Rejoin Cravath
The post-election wave of departures at the Securities and Exchange Commission has begun, with the announcement that Corporation Finance Director John White will leave the agency at the end of the year. White will rejoin the law firm of Cravath, Swaine & Moore as a partner in its New York office, where he spent more […]
Posted inFrom the Archive
Despite FCPA Enforcement Surge, Cos. Not Vetting Partners
Despite the onslaught of anti-bribery and anti-corruption enforcement actions, it appears that some companies may not be taking recent warnings to “know thy customer” to heart just yet. Most multinational U.S. companies have programs in place to meet Foreign Corrupt Practices Act guidelines. However, they still may not know enough about those with whom they […]
Posted inBoards & Shareholders
Court Rulings Give Reasons to Review Bylaws
Companies have another item on the to-do list as they prepare for next year’s proxy season: reviewing their advance notice bylaw provisions. Several court decisions this year, two in Delaware and one in federal appeals court, could trip up companies that aren’t paying attention, legal experts say. Usually corporate bylaws require shareholders to give advance […]
Posted inAccounting & Auditing
IASB Vice Chairman Vocal Proponent of Fair Value
As the debate rages on over whether fair-value accounting is the root cause of the credit crisis and how best to address concerns about its application, a member of the International Accounting Standards Board has stepped up to defend the accounting method in a speech before a group of U.S. securities analysts. Thomas Jones, IASB’s […]
