Labor & Employment Law, Securities Law

Simplifying Leaver Provisions?

by Orrick, Herrington & Sutcliffe LLP on 5/23/2013

Introduction - In response to the Nuttall Review of Employee Ownership, the Government has introduced the Companies Act 2006 (Amendment of Part 18) Regulations 2013 (the Regulations) which entered into force on 30...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Deadline Approaching for Compensation Committee Charter Amendments"

by Michael R. Bergmann, Andrew Brady, Brian V. Breheny, Kristin M. Davis, Berit R. Freeman, Richard J. Grossman, Neil M. Leff, Alessandra K. Murata, Audrey Murga, Timothy Nelson, more +Regina Olshan, David C. Olstein, Erica Schohn, Joseph M. Yaffe | Skadden, Arps, Slate, Meagher & Flom LLP on 5/23/2013

As a reminder, by July 1, 2013, compensation committee charters must comply with the new New York Stock Exchange (NYSE) and Nasdaq Stock Market (Nasdaq) listing requirements that were approved by the Securities and Exchange...more

Employers With Share Option Schemes Take Note…

by Richard Cook, James Ross | McDermott Will & Emery on 5/23/2013

A recent decision of the United Kingdom’s First Tier (Tax) Tribunal has provided a timely reminder of the importance for employers of notifying their employees of the requirement to promptly reimburse the employer for income...more

Law360 Quotes Lloyd Chinn on the U.S. Supreme Court’s Granting of Certiorari in Lawson

by Harris M. Mufson, Daniel Saperstein | Proskauer - Whistleblowing & Retaliation on 5/22/2013

In a Law360 article (subscription required) today, Lloyd Chinn, Co-head of Proskauer’s Whistleblower & Retaliation Group, commented on the U.S. Supreme Court’s decision to hear its first-ever whistleblower case under the...more

NYSE and NASDAQ Compensation Committee Adviser Independence Rules Effective July 1, 2013

by Ali Fawaz, Joshua Miller | Proskauer - ERISA Practice Center on 5/22/2013

Publicly traded companies are reminded of the approaching deadline for compliance with certain of the SEC-approved final amendments of the NYSE and Nasdaq stock exchange listing rules governing compensation committee...more

U.S. Supreme Court to Decide Whether SOX’s Whistleblower Provision Protects Employees of Publicly Traded Company’s Contractors

by Noa Baddish, Lloyd B. Chinn, Harris M. Mufson | Proskauer - Whistleblowing & Retaliation on 5/21/2013

On May 20, 2013, the United States Supreme Court granted a petition for a writ of certiorari to review the United States Court of Appeals for the First Circuit’s decision holding that SOX’s whistleblower protection does not...more

Whistleblower Law Firm Complains To SEC

by Jill Radloff | Leonard, Street and Deinard - Dodd-Frank and... on 5/20/2013

Two partners from a self-described law firm that specializes in the representation of whistleblowers have sent a letter to the SEC Commissioners complaining about the use of severance agreements to prevent employees from...more

Investment Management Legal + Regulatory Update -- May 2013

by Luke T. Bagley, Jay G. Baris, Thomas M. Devaney, Kelley A. Howes, Robert E. Putney, III, Isabelle Sajous | Morrison & Foerster LLP on 5/17/2013

In This Issue: Regulatory Updates - SEC Allows Limited Use of Social Media for Public Disclosure; Federal Reserve Board Publishes a Final Rule Specifying when Nonbank Firms are “Predominantly Engaged in...more

Swiss Voters Approve “Against the Rip-Off” Referendum Restricting Corporate Compensation

by Celia Joseph | Fisher & Phillips LLP on 5/15/2013

On March 3, 2013, voters in Switzerland approved a referendum providing one of the world’s most onerous restrictions regarding executive compensation. The referendum entitled, “Eidgenössische Volksinitiative ‘gegen die...more

"Shares for Rights: Over-Sold or Under-Appreciated?"

by James Anderson, Helena Derbyshire | Skadden, Arps, Slate, Meagher & Flom LLP on 5/14/2013

In this article we consider some alternative approaches to the proposed U.K. status of “employee shareholders,” who receive capital gains tax-exempt shares in their employer (or its parent) in return for waiving certain...more

Employee Shareholders: It's Happening, but What Does it Mean?

by Nick Thomas | Morgan Lewis on 5/13/2013

New Growth and Infrastructure Act introduces employee shareholder provisions that are expected to come into force later this year. On 25 April, the Growth and Infrastructure Act 2013 came into effect and, among other...more

Corporate and Financial Weekly Digest - May 10, 2013

by Katten Muchin Rosenman LLP on 5/13/2013

In this issue: - SEC Roundtable Discusses Current Securities Law Topics at 33rd Annual Ray Garrett Jr. Corporate and Securities Law Institute - SEC Reopening Comment Periods for Certain Rulemaking Releases and...more

Ninth Circuit Holds that Federal Securities Laws Preempt California Labor Code's Ban on Forced Patronage at Brokerage Firms

by Bram Hanono, Jennifer Redmond, John Stigi | Sheppard Mullin Richter & Hampton LLP on 5/10/2013

In McDaniel v. Wells Fargo Investments, LLC, Nos. 11-17017, 11-55859, 11-55943, 11-55958, 2013 WL 1405949 (9th Cir. Apr. 9, 2013), the United States Court of Appeals for the Ninth Circuit affirmed the dismissal of four class...more

Protecting Privacy or Enabling Fraud? Employee Social Media Password Protection Laws May Clash with FINRA Rules

by Jessica Goldenberg | Proskauer - Privacy & Data Security on 5/9/2013

As a growing number of states pass legislation which will protect individuals’ social media accounts from employer scrutiny, they have encountered a surprising adversary – FINRA and other securities regulators....more

Pooled Registered Pension Plans – Status Update

by Jonathan Marin | Osler, Hoskin & Harcourt LLP on 5/8/2013

To address concerns about pension coverage in Canada, the federal government introduced the concept of the pooled registered pension plan (PRPP) in late 2011 through Bill C-25, the Pooled Registered Pension Plan Act (PRPP...more

Second Circuit Further Curtails Duty of Prudence Claims in Saint Vincent Catholic Medical Centers v. Morgan Stanley

by Jennifer Clark, Angelo Savino | Cozen O'Connor on 5/8/2013

In a line of recent cases, the 2nd Circuit has limited ERISA plaintiffs’ claims for breach of the duty of prudence by holding that investments of benefit plan funds in employer securities pursuant to plans calling for such...more

C.D. Cal. Greenlights SOX Claim, Analyzing Whether Scienter Must Be Shown Where Violation Of Internal Controls Is Alleged

by Noa Baddish, Harris M. Mufson, Steven J. Pearlman | Proskauer - Whistleblowing & Retaliation on 5/7/2013

On April 24, 2013, the U.S. District Court for the Central District of California issued its final ruling that a SOX whistleblower complaint survived a Rule 12(b)(6) challenge. Zulfer v. Playboy Enterprises, Inc., No....more

SEC Dings Investment Adviser for Custody Violations, Failure to Supervise

by David Smyth, Elizabeth Spainhour | Brooks Pierce on 5/3/2013

Readers of this space – and SEC observers generally – will recall a March 4 risk alert designed to warn investors about the ways U.S. investment advisers had recently been found to have violated the SEC’s asset custody rule....more

Employee Shareholder Status – An Innovative Solution for Innovative Employers?

by William George, Mandy Perry, Nicola Whiteley | Orrick - Global Employment Law Group on 5/1/2013

After twice rejecting the Government’s proposals, the House of Lords has just finally voted to accept the much argued Clause 27 of the Growth and Infrastructure Bill, thereby paving the way for new legislation that will...more

UK Employment Alert No 209: Update on The Proposed European Cap on Bank Bonuses

by Katie Clark, James Noble | McDermott Will & Emery on 4/30/2013

Following recent discussions on this topic, lawmakers in the European Parliament have now adopted legislation intended to cap the value of bonuses paid to certain bank staff....more

New Disclosure Requirements for Massachusetts Pension Investments

by Ropes & Gray LLP on 4/29/2013

The Commonwealth of Massachusetts has started implementing pension reform legislation enacted in 2011 that imposes demanding contracting and disclosure requirements on state and local pension fund boards. The new pension fund...more

UK Employment Alert No 208: Employee-Shareholder Status

by Katie Clark | McDermott Will & Emery on 4/29/2013

On 8 October 2012, George Osborne announced that the UK Government was proposing a new type of employment contract, dubbed the “employee-shareholder” contract....more

Anti-Corruption High-Risk Audits

by Michael Volkov on 4/29/2013

The Justice Department and the SEC should be credited with promoting new compliance strategies and best practices. Whatever you may think about the DOJ/SEC FCPA enforcement program, they have pushed businesses to enhance...more

"Executive Compensation and Benefits Alert: Skadden’s 2013 Proxy Watch: Emerging Say-on-Pay Trends and Litigation Developments"

by Michael R. Bergmann, Kristin M. Davis, Berit R. Freeman, Neil M. Leff, Barbara R. Mirza, Alessandra K. Murata, Timothy Nelson, Regina Olshan, David C. Olstein, Erica Schohn, more +Joseph M. Yaffe | Skadden, Arps, Slate, Meagher & Flom LLP on 4/26/2013

Early Lessons From the 2013 Proxy Season - As Skadden monitors the initial weeks of the 2013 proxy season, we are seeing the following preliminary trends: Vote Results - Of the first 279 companies of the...more

PBGC Withdraws Two Territorial Coverage Opinion Letters Impacting Puerto Rican Plans

by Justin Alex | Proskauer - ERISA Practice Center on 4/26/2013

The status of PBGC coverage for Puerto Rico defined benefit plans is one that has been the subject of review and analysis by the PBGC for quite some time. Most recently, on April 19, 2013, the PBGC withdrew two older opinion...more

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Labor & Employment Law › Securities Law