Mary Jo White

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SEC Chair Directs Staff to Review Commission Rule Excluding Conflicting Proxy Proposals

On January 16, Securities and Exchange Commission Chair Mary Jo White announced that she has directed the SEC’s staff (Staff) to review Rule 14a-8(i)(9) promulgated under the Securities Exchange Act of 1934, which allows an...more

Corporate and Financial Weekly Digest - Volume X, Issue 3

In this issue: - SEC Chair Directs Staff to Review Commission Rule Excluding Conflicting Proxy Proposals - SEC Comments on FINRA's Proposed Rule Amendment to Increase Pricing Disclosure - CFTC Grants...more

Blog: Glass Lewis Jumps Into The Fray On Exclusion Of Shareholder Proposals For Proxy Access

The WSJ reported on Friday afternoon that proxy advisory firm Glass Lewis may recommend against company nominees for director when the company excludes a shareholder proposal for proxy access on the basis of a conflicting...more

Investment Management Update

SEC’s Focus in 2015 - On December 11, 2014, Mary Jo White, Chair of the U.S. Securities and Exchange Commission (SEC), gave a speech at The New York Times DealBook Opportunities for Tomorrow Conference that...more

SEC Reverses Course on Proxy Exclusions for Certain Shareholder Proposals

Much is being made of the January 16th statement by SEC Chair Mary Jo White regarding a company’s ability to exclude a shareholder proposal from its proxy statement based on Rule 14a-8(i)(9), which allows exclusion when a...more

The SEC’s Rule 14a-8 Process Just Became Even More Pointlessly Outré

Yesterday, Broc Romanek posted on SEC Chair Mary Jo White’s Friday surprise with respect the no-action letter request submitted by Whole Foods Market, Inc. Readers may recall that in December Whole Foods had obtained the...more

2014 Top 10 SEC Enforcement Highlights

Mary Jo White was confirmed in April 2013 as Chair of the Securities and Exchange Commission (the “SEC”), becoming the first former United States Attorney to serve in that role. Given her background, and despite criticism...more

No More SEC No-Action Letters on Proxy Access Proposals

Responding to investor pressure, and pressure by shareholder proponents, the SEC Division of Corporation Finance issued this statement: “In light of Chair White’s direction to the staff to review Rule 14a-8(i)(9) and...more

5 Insights From The SEC Whistleblower Program Annual Report That Will Impact Your 2015

The SEC’s whistleblower program has had a noteworthy year. They outlined the highlights in their “2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program.” Here are five trends that will continue to have an...more

Blog: Republicans To SEC Chair: Delay Pay Ratio Rules. Is A Repeal Attempt In The Offing?

The WSJ reports that three Republican congressman — House Financial Services Committee Chairman Jeb Hensarling, and Reps. Scott Garrett and Bill Huizenga — have written to SEC Chair Mary Jo White urging that the SEC stop...more

2014 SEC Government-Business Forum on Small Business Capital Formation Considers Adding Qualitative Requirements to the Standards...

On Thursday, November 20th, the 2014 SEC Government-Business Forum on Small Business Capital Formation met at the SEC headquarters in Washington, D.C. The forum was attended by SEC Chairwoman Mary Jo White, Commissioner...more

A Royal Fan Responds: Russ Berland on the SEC Financial Report for FY 2014

Ed. Note-today we have a guest post from KC Royals fan and Stinson Leonard Street partner Russ Berland. As a Kansas City Royals fan, I would like to use this opportunity to congratulate the Royals on a great season...more

Blog: SEC To Issue Concept Release Regarding Audit Committees

Compliance Week reports that SEC Chair Mary Jo White, speaking before the Investor Advisory Group of the PCAOB, said that the SEC plans to Issue a concept release in early 2015 “exploring possible avenues for elevating the...more

Commissioner’s Concerns About Civil Penalties Temper SEC’s Release of FY14 Enforcement Results

On October 16, the SEC publicized its preliminary enforcement results for fiscal year 2014. In what it described as a “successful enforcement year,” the Commission brought a record 755 actions and obtained $4.16 billion in...more

SEC Sends A Message — To Executives And Their Companies

In October 2013, SEC Chair Mary Jo White gave a speech at the Securities Enforcement Forum in which she declared an “enforcement mission” of the SEC to be implementation of the “broken windows” theory of crime deterrence...more

The SEC Tackles Technicality

Within several months of Securities and Exchange Commission Chair Mary Jo White’s announcement in late 2013 of a commitment to improving the SEC’s trial readiness, the Commission suffered a number of losses in federal...more

Suspense and Intrigue Surround Closed SEC Meeting

The SEC Office of Inspector General has released a redacted version of an investigation regarding a leak of Commissioner Piwowar’s vote during an executive session of a closed Commission meeting regarding an enforcement...more

SEC Requires Floating NAV for Institutional Money Market Funds; IRS Eases Tax Reporting Burden for Fund Investors

A divided Securities and Exchange Commission recently adopted rules that will require floating net asset values (NAVs) for institutional money market funds and give most money market funds the discretion to impose liquidity...more

SEC Approves Amendments to Rules Governing Money Market Funds

Yesterday, the U.S. Securities and Exchange Commission (“SEC”), by a vote of 3 to 2, approved amendments to Rule 2a-7 and other rules that govern money market funds under the Investment Company Act of 1940 (the “Amendments”)....more

Financial Services Committee Hearing May Provide Insights

This Thursday, July 24th, the Capital Markets and Government Sponsored Enterprises Subcommittee will hold a hearing with Keith Higgins, Director of the SEC’s Division of Corporation Finance, to review the SEC’s rule proposals...more

Small SEC Steps Toward a Uniform Fiduciary Standard?

Securities and Exchange Commission Chair Mary Jo White has directed the Commission’s staff to prepare a document that outlines all alternative approaches the SEC could take to proposing fiduciary rules applicable to...more

SEC Adopts Rules on Cross-Border Security-Based Swap Activities

On June 25, 2014, the Securities and Exchange Commission (“SEC” or “Commission”) unanimously adopted final rules regarding the application of “Security-Based Swap Dealer” and “Major Security-based Swap Participant”...more

SEC Chair White Discusses Directors’ Responsibilities

In a recent speech at the Stanford Directors’ College, SEC Chair Mary Jo White discussed several “things that directors should know about the SEC.” Her speech focused on directors as gatekeepers, self-reporting of wrongdoing,...more

SEC: Don’t Ignore the Habitually Wrong Whistleblower

SEC Chair Mary Jo White recently gave a speech on a number of important matters, including the role of directors as gatekeepers, her views of self-reporting of violations and the SEC’s whistleblower program. In the speech...more

A Chilling Message: Prosecuting Chief Compliance Officers

As Chief Compliance Officers rise in the corporate hierarchy, they will become the focus of more enforcement actions. This increased focus on prosecution of CCOs could have a chilling effect on their performance and the...more

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