On 6 June 2016, the South African Department of Trade and Industry (DTI) published, with immediate effect, Regulations to the Broad-Based Black
While social media has emerged as a powerful tool to connect with customers and shareholders, executives of publicly-traded companies should proceed with caution when communicating information about their company or its securities electronically, including through the use of social media.
The Federal Election Commission ("FEC") recently reported that House and Senate candidates had raised $285.2 million in the first six months of this year for the 2012 elections, a record haul for a non-election year.
Seven federal regulators of financial institutions jointly issued proposed rules ("Proposed Rules") on March 30, 2011 which would implement the requirements of section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act").
In our 2011 Proxy Season Update dated January 12, 2011 (available here) we provided a detailed discussion of the SEC's new requirements that US public companies submit "Say on Pay" and "Say on Frequency" proposals to advisory votes of their shareholders.
Several regulatory developments will affect US public companies for the 2011 proxy solicitation and annual meeting season.
Companies going public in the United States have come to expect the SEC to challenge the pricing of preIPO stock and options.
On September 29, 2010, the U.S. Chamber of Commerce and the Business Roundtable, as widely expected, filed a petition in the U.S. Court of Appeals for the District of Columbia Circuit seeking review of the U.S. SEC's adoption on August 25, 2010 of new Rule 14a-11 and amendments to certain of its other proxy rules that collectively would have required most publicly traded companies, commencing in early 2011, to include in their proxy materials director nominees put forward by a shareholder or a group of shareholders who have owned 3 or more of a company's stock for at least three years.
Hedge funds, private equity funds and other alternative investment funds and their managers have been ever-present on the regulatory reform agenda for the past two years.
At an open hearing on August 25, 2010 the SEC, as expected, adopted amendments to its proxy rules providing for inclusion of shareholder nominees in company proxy statements.