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The power and influence of proxy advisory firms in affecting the outcome of shareholder meetings have been hotly debated in recent years, with many seeking a regulatory solution. Yesterd...
Among the usual exhortations regarding directors’ responsibilities for setting the correct “tone at the top” and establishing a strong compliance culture in Chair White’s recent s...
On June 25, 2014, in Fifth Third Bancorp et al. v. Dudenhoeffer et al., the U.S. Supreme Court unanimously overturned the presumption of prudence that has been applied in “stock drop”...
SEC Rules and Regulations
SEC Grants No-Action Relief to Closed-End Funds for Filing Post-Effective Amendments to Registration Statements
Industry Update
Director of OCIE Di...
Congressman Patrick McHenry (R-NC) indicated that Congress will step in if the SEC fails to act to curb investors’ reliance on proxy advisory firms, in his keynote speech at a panel dis...
McKesson Corporation announced that it intends to submit a proxy access bylaw amendment for shareholder vote at the company’s 2015 annual meeting. The company has not yet filed its prox...
For only the second time since it began reviewing mergers and joint ventures in 2008, when China’s Anti-Monopoly Law (“AML”) came into effect, MOFCOM has blocked a proposed transact...
More than six months after the release of final Volcker Rule regulations, banking organizations continue to grapple with a long list of interpretive questions and an opaque process for se...
The Securities and Exchange Commission (“SEC”) announced a settlement on Monday, June 16, 2014 that marked its first case to protect a whistleblower under the anti-retaliation provisi...
A derivative action has been brought in Delaware Chancery Court alleging that Facebook’s board of directors breached their fiduciary duties and unjustly enriched themselves and wasted c...