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Executive Compensation Alert: IRS Releases Final Section 162(m) Regulations

Background - Section 162(m) of the Internal Revenue Code (the “Code”) denies a tax deduction to a public company if the compensation paid to its chief executive officer and three other highest compensated officers...more

Tech Industry Bulletin

In this Issue: - Corporate: Negotiating Strategies for the Sale of Technology Companies - Intellectual Property: Crowdfunding and Confidentiality for Tech Start-Ups - Real Estate: An Introduction to...more

There’s a Cost For Those “Free” SEP and SIMPLE IRA Plans

There is no such thing as a free lunch. There is no such thing as free advice. The more years I spend in the retirement plan business; I know that there is no such thing as a free retirement plan. When I speak of “free”...more

House Bill 58, Alabama Jobs Act, Gives State Jobs Tax Credit and Capital Investment Credit

HB58, one of five bills that constitute what has been described as the most significant overhaul of Alabama economic development since Mercedes-Benz came to the state, became law on Friday, April 3 (effective July 2). The...more

EXTRA! EXTRA! FASB Eliminates Extraordinary Items; Impact on Section 162(m) Plans

Public company incentive plans that are designed to comply with the "performance-based compensation" rules under Section 162(m) of the Internal Revenue Code often include language that permit the exclusion of certain events,...more

CFPB Proposes New Rules for Payday Loans

On March 26, 2015, the Consumer Financial Protection Bureau (the Bureau) proposed new regulations on short-term loans, commonly known as "payday loans," which are typically issued by non-depository institutions. The Bureau...more

DBO Establishes Protocol With To Block Unlicensed Payday Lenders’ Ads

When I served as California’s Commissioner of Corporations, Internet commerce was just finding its legs and we were concerned about how to apply the Corporate Securities Laws to this new technology. For state regulators, the...more

Retirement Plan Sponsors Need To Care About Plan Design

If you had your eyes set on a car and one model gave you 25 miles to the gallon and the other model gave you 45 with no difference in features or price, what would you choose? If you can find a coupon for items you were...more

SEC Announces Action Against Company for Using Confidentiality Agreements That Allegedly Could Deter Whistleblowers

As we discussed in a post last month, the SEC has been closely scrutinizing whether companies may be using non-disclosure and confidentiality agreements that could discourage employees from acting as whistleblowers and...more

SEC Sends Message to Employers On Confidentiality Agreements

In the aftermath of the Enron scandal and the Great Recession, Congress passed broad legislation to purportedly address corporate malfeasance, including the Dodd-Frank Act in 2010....more

As a Retirement Plan Provider, Don’t Turn Into A Bureaucracy

They say that if Con is the opposite of Pro, then Congress is the opposite of progress. Nice joke, but Congress is known for its bureaucracy and the idea that nothing gets done, regardless of which political party is in...more

Securities and Exchange Commission: Critical Issues Facing Public Companies

Latham & Watkins partners William Baker, Alexander Cohen, Joel Trotter and Lawrence West hosted a webcast “Securities and Exchange Commission: Critical Issues Facing Public Companies.” Topics discussed included the increasing...more

Welcome To California: No Foreign Corporations Need Apply

California continues to hemorrhage corporate charters to Delaware and Nevada.  The most recent potential emigrant is SJW Corp. which filed this proxy statement last week seeking shareholder approval of a reincorporation from...more

Special Alert: CFPB Releases Outline Of Proposed Rule For Payday, Vehicle Title, And Similar Loans

On March 26, the CFPB announced that it is considering proposing a rule to “end payday debt traps” and released several related documents, including a fact sheet and an outline of the proposal that will be presented to a...more

Financial Services Weekly News Roundup - March 2015 #4

Focus on Fiduciary Standards. In February the President’s Council of Economic Advisers (CEA) issued a Report on the Effects of Conflicted Investment Advice on Retirement Savings. In its conclusion, the Report estimated the...more

A Good Retirement Plan Doesn’t Grow On Trees

It doesn’t grow on trees, it’s not in the water, and it doesn’t happen by accident. It didn’t happen overnight, it didn’t happen in a vacuum, and it certainly didn’t come out of thin air. A good retirement plan takes a lot of...more

SEC Approves FINRA Rule Regarding Investigation and Verification of Registration Applicants

After seeking comments last fall, the Securities and Exchange Commission (“SEC”) recently approved the Financial Industry Regulatory Authority’s (“FINRA”) proposed rule governing member firms’ verification and investigation...more

Russian Legislation Update - 2 – 15 March 2015

In This Issue: - Civil Code Reform: contracts and obligations - New Development Bank BRICS - Employment/Foreign Citizens - Securities: bondholders; information disclosure - Excerpt from New Development Bank...more

Massachusetts Unveils Limited Amnesty Program

Beginning March 16, 2015, the Massachusetts Department of Revenue is offering an aptly described “limited” amnesty program for taxpayers with certain tax liabilities. Technical Information Release 15-2....more

Another 10 Wrong Ideas That Plan Sponsors Have About Their Retirement Plans

Most of the time, sequels suck. Except for perhaps Terminator 2 and The Godfather Part II, most sequels are like such bombs as Caddyshack II and Beyond the Poseidon Adventure. Despite this dislike of sequels, giving Plan...more

Companies Should Monitor Deferred Compensation Arrangements For Section 409A Compliance Purposes

Given the complexity of the rules under Section 409A of the Internal Revenue Code, which govern the timing and taxation of payments made under non-qualified deferred compensation arrangements (NDCAs), companies are encouraged...more

The Top 10 Wrong Ideas That Plan Sponsors Have About Their Retirement Plans

People can get the wrong idea at times. I’ll never understand what Fred Silverman was thinking when he made Jean Doumanian the successor to Lorne Michaels as Executive Producer of Saturday Night Live or when he imported Pink...more

Blog: Senate Bill Introduced To Raise Rule 701 Disclosure Threshold

Senators Pat Toomey (R., PA) and Mark Warner (D., VA) have introduced Senate Bill 576, the ‘‘Encouraging Employee Ownership Act.’’ The bill would require the SEC, within 60 days after enactment, to raise the threshold in...more

In Case You Missed It - Interesting Items for Corporate Counsel - March 2015

It's difficult to discern “trends” from reactions to date on proxy access proposals, but here are some data points: Three companies, including two on the NY Comptroller’s 75-company target list have adopted...more

ISS Releases Four Sets of FAQs, Glass Lewis Provides an Update, and FASB and IASB Make Certain Decisions Relevant to Equity...

Proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis have both released updates to their policies that outline how they will form recommendations to shareholders on how they should vote on governance,...more

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