Securities Regulation News Briefs from Cooley LLP

SEC Adopts Proxy Access

Wed, 25 Aug 2010 00:00:00 GMT

By Cydney Posner

This morning, after almost a decade of failed efforts, the SEC, by a vote of three-to-two, adopted changes to the federal proxy and other rules to facilitate director nominations by shareholders. So-called "proxy access" will allow eligible shareholders t...

Proxy Access Meeting Scheduled

Wed, 18 Aug 2010 00:00:00 GMT

By Cydney Posner

As anticipated, the SEC has scheduled an open meeting for August 25 to consider adopting proxy access (read "to adopt").

Revised and New C&DIs

Thu, 12 Aug 2010 00:00:00 GMT

By Cydney Posner

The SEC has posted some revised and new C&DIs, several of them related to foreign private issuers.

Securities Act Sections

Securities Act Section 5

(Revised) An issuer contemplating a registered deb...

Discretionary Voting on Compensation Matters

Mon, 09 Aug 2010 00:00:00 GMT

By Cydney Posner

On August 4, the NYSE issued an "information memo" stating that, in light of ...

Scoops on Proxy Access

Thu, 05 Aug 2010 00:00:00 GMT

By Cydney Posner

An article in this morning's Wall Street Journal purports to have the scoop on proxy access. According to the article, the SEC has scheduled a vote for August 25 to adopt proxy access, the final vote will be three to two (which was the same vote ...

Approval of Nasdaq Proposed Rule Amendments

Mon, 02 Aug 2010 00:00:00 GMT

By Cydney Posner

The SEC has approved the Nasdaq rule amendments.

House Financial Services Committee Approves Bill Requiring Vote on Political Expenditures

Fri, 30 Jul 2010 00:00:00 GMT

By Cydney Posner

In response to the Supreme Court's recent decision in Citizens United, which held that the government may not ban political spending by corporations in candidate elections, the House Financial Services Committee yesterday approved, by a vote of 35-28, a b...

A Few Things in the DFA You May Not Have Heard Much About

Wed, 28 Jul 2010 00:00:00 GMT

By Cydney Posner

Below are a few additional items in the Dodd-Frank Act that you may or may not have heard about (there are probably plenty more to com...

SEC Chair Speech re Financial Reform Rulemakings

Tue, 27 Jul 2010 00:00:00 GMT

By Cydney Posner

In a speech today to the Center for Capital Markets Competitiveness, U.S. Chamber of Commerce, SEC Chair Mary Schapiro addressed the next phase in financial regulatory reform. Noting that the SEC faces a ...

New SEC C&DIs Regarding Consents of Credit Rating Agencies

Thu, 22 Jul 2010 00:00:00 GMT

By Cyndey Posner

The SEC has released several new C&DIs regarding Securities Act rules in light of provisions of the Dodd-Frank Act, particularly the repeal of Rule 436(g) by Section 939G of the DFA. In general, Rule 436 requires companies to obtain the co...