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...
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...
Pay-to-play arrangements involving payments to intermediaries to influence public pension fund investment decisions have recently come to the fore on a number of fronts:
New York Stat...
On May 5, 2009, the SEC charged a bond salesman and a hedge fund manager with insider trading involving credit default swaps (“CDS”). The case, the first ever involving insider tradin...
On March 26, 2009, SEC Chairman Shapiro testified before the Senate Committee on Banking, Housing and Urban Affairs with regard to SEC objectives for investor protection enhancement and s...
The reorganization or liquidation of most types of companies is governed in the United States by a single federal law—the US Bankruptcy Code (the “Bankruptcy Code”). As a result, no...
The long awaited public-private investment program announced by Secretary Geithner on March 23, 2009 contains two key components: a securities purchase program, designed to remedy the ill...
As discussed in the February 18, 2009 Davis Polk Corporate Regulatory Report, SEC Chairman Mary Schapiro recently spoke at the annual “SEC Speaks” conference and indicated her priorit...
In late January, members of Congress introduced two bills that could greatly affect private funds and their managers. Senators Chuck Grassley (R-IA) and Carl Levin (D-MI) proposed “The ...
