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The Council of Institutional Investors has published an FAQ on majority voting for directors in which it advocates for “consequential majority voting,” a form of majority voting in di...
Last week, the House of Representatives passed three bills containing provisions that would require certain of the financial regulatory agencies to conduct cost-benefit analysis as part o...
On Friday, January 13, the United States Court of Appeals for the District of Columbia Circuit issued an order granting leave for PHH to file a supplemental response to the CFPB’s petit...
On January 13, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced amendments to the Sudanese Sanctions Regulations, 31 C.F.R. part 538 (“SSR...
Decision restores certainty to out-of-court debt restructurings
In a surprising 2014 decision, the District Court for the Southern District of New York held that the Trust Indenture Act ...
The following is the Davis Polk visual memorandum analyzing the Federal Reserve’s final rule on total loss-absorbing capacity (TLAC), eligible long-term debt (LTD) and clean holding com...
Or, Some Perspective on Indenture Language Restoring the Commercial Understanding of “Make-Whole” Premiums That Prevailed Before Summer 2016
A covenant review service recently procla...
The SEC Staff determined that a shareholder proposal on greenhouses gases (GHGs) could be excluded from Apple and Deere’s proxy statements as relating to ordinary business operations be...
On Friday, in response to a question after delivering a speech, Fed Governor Jay Powell criticized the proprietary trading restrictions of the Volcker Rule. He was quoted in the press as...
Last week, the House of Representatives passed two bills and considered another that would dramatically expand Congress’s role in the oversight of agency rulemaking. Although we think t...