Certification Requirement
Companies listed on the Nasdaq Stock Market must certify that they have complied with Nasdaq’s listing standards regarding compensation committees by the earlier of 30 days after their 2014 annual meeting (if that meeting is held after January 15) or October 31, 2014. This certification must be done through the Nasdaq OMX Listing Center. A preview of the certification form is available at the Nasdaq OMX Listing Center.
In this age of innovation, when a majority of prominent companies are moving towards a greener, cleaner world, Google seems to be at the forefront of the initiative. One of the world’s largest technology companies has invested over $1 billion on wind and solar projects. Google believes these innovative, large-scale energy projects can become major sources of power in the future.
Can the SEC require an insider trader to disgorge more than he has personally “swallowed”? The United States Court of Appeals for the Second Circuit answered “yes,” thereby expanding the SEC’s disgorgement authority. Insider traders now have to worry about more than just the criminal and civil liability imposed for the profits they have personally realized: they can now be held responsible for what others have gained from their crimes.
Tech start-ups are proliferating around the world. They introduce technology to every aspect of our lives, from the way we communicate, to the way we care about our health, to the way we store our data. As a result, almost one third of the recent NYSE and NASDAQ IPO filings involved a tech-related corporation. However, when it comes to evaluating their potential, there is plenty of extravagancy involved, and some may say, accidentally turns young start-up founders into millionaires.
The FRB issued a Notice of Proposed Rulemaking to repeal its regulation implementing the Truth in Savings Act, Regulation DD, and the regulation implementing the provisions of the Gramm-Leach Bliley Act protecting the privacy of consumer financial information, Regulation P.
Last fall, talks circulated within the cable industry about a potential buyout of Time Warner Cable (TWC). Last week, Comcast proposed a $45.2 billion dollar, all-stock, friendly bid for TWC. This merger would combine the two largest cable service providers in the country, which immediately raises antitrust concerns.
As the years go by, more and more boutique and independent firms gain market share in the industry of M&A advisory. Last year, for instance, boutique and independent firms accounted for 30 percent of all fees relating to financial advisory in completed transactions, a jump from 28 percent in 2012 and 25 percent in 2011.
Recently, Cameron Eliot, Security and Exchange Commission (SEC) administrative trial judge, ruled that the four global auditing firms (with Chinese affiliates), Ernst & Young Hua Ming, KPMG Huazhen, Deloitte Touche Tohmatsu, and PricewaterhouseCoopers Zhong Tian, violated the Sarbanes-Oxley Act for refusal to release the audit documents of companies investigated for accounting fraud.
The Berkeley Center for Law, Business and the Economy will be hosting a lunch presentation by Professor Steven Schwarcz of Duke University School of Law on Tuesday, February 25, 2014. The event will be held at Boalt Hall 100, 12:45 – 1:45 pm. Registration is requested.
How should the law help to control systemic risk—the risk that the failure of financial markets or firms harms the real economy by increasing the cost of capital or decreasing its availability?
Google’s 2-for-1 stock split, which was first floated to investors almost two years ago but delayed by a shareholder lawsuit, has finally been approved by Google’s board on January 30, 2014, following a settlement of the lawsuit.