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The Obama Administration’s draft legislation for the Consumer Financial Protection Agency Act of 2009 was sent to the Congress on June 30, 2009. The proposed legislation would make swee...
In response to the turmoil that rippled through money market funds and credit markets last fall when the Reserve Primary Fund’s net asset value fell below $1.00 or “broke the buck,”...
The SEC voted today (3-2) to eliminate broker discretionary voting in director elections for meetings held on or after January 1, 2010. Previously, brokers were permitted to vote uninstru...
Among the many companies suffering from the current economic turbulence are portfolio companies of private equity firms. One recent study estimated that nearly 50% of all companies owned ...
Two decisions were issued last week in separate bankruptcy cases that might be of interest to our clients. In one, a Delaware District Court issued an opinion further constraining the use...
Informal comments by representatives of the IRS suggested for the first time on June 12, 2009 that investments in certain types of foreign hedge funds may constitute foreign financial acc...
The Federal Trade Commission (“FTC”) yesterday fined John C. Malone, CEO and Chairman of Discovery Holding Company (“Discovery”), $1.4 million to settle allegations that he violat...
The Obama Administration’s White Paper on Financial Regulatory Reform is just the beginning of what is likely to be a legislative, regulatory and ideological marathon, despite the Admin...
The SEC’s proposed proxy access rules were released on June 10. Comments are due by August 17. The SEC’s apparent goal is to adopt some form of proxy access rule in time for the 2010 ...
This newsflash summarizes the key proposals in the Obama Administration’s White Paper on Financial Regulatory Reform We will post a full memorandum with analysis and commentary in the c...