Oversight Committee

News & Analysis as of

CFTC Seeks Input on New Market Risk Advisory Committee

The Commodity Futures Trading Commission is seeking comments on potential topics for discussion at future Market Risk Advisory Committee (MRAC) meetings....more

California Attorney General Clarifies Oversight Board Member Compensation Rules

Opinion Comes in Wake of Dissolution of Redevelopment Agencies - Local entities making appointments to oversight boards are prohibited from compensating the appointee, or reimbursing expenses incurred as a result of...more

House Oversight Committee Choke Point Inquiry Shifts To FDIC

On June 9, Darrell Issa (R-CA), Chairman of the House Oversight Committee, and Jim Jordan (R-OH), an Oversight subcommittee chairman, sent a letter to FDIC Chairman Martin Gruenberg that seeks information regarding the FDIC’s...more

DOE Publishes Notices Announcing Meeting Of And Solicitation Of Nominees For Biomass R&D Technical Advisory Committee

On May 19, 2014, two U.S. Department of Energy (DOE) notices were published in the Federal Register. The first is a notice of an open meeting of the Biomass Research and Development Technical Advisory Committee (Committee)....more

Cayman Liquidation Committees – What Prospective Members Need to Know

In this guide Harneys considers the role and function of a liquidation committee appointed under the Cayman Islands’ Companies Winding Up Rules. A vital component in the liquidation of a Cayman Islands company is the...more

House Judiciary Committee Hearing on DOJ Oversight

The House Judiciary Committee recently held a hearing regarding oversight of the U.S. Department of Justice during which Attorney General Eric Holder testified....more

SEC Hosts Roundtable on Cybersecurity Issues and Challenges

Participants recognize the importance of board oversight and risk disclosures. On March 26, the U.S. Securities and Exchange Commission (SEC) hosted a roundtable to discuss cybersecurity and the issues and challenges...more

CFTC Interdivisional Working Group to Review Swap Reporting

The Commodity Futures Trading Commission has announced the formation of an interdivisional staff working group, led by the director of the Division of Market Oversight...more

North Carolina Legislative Report - December 20, 2013

The General Assembly has officially completed its business for the 2013 long session. The 2014 short session will begin on Wednesday, May 14, 2014. The MVA Public Affairs Legislative Report on North Carolina will be...more

North Carolina Legislative Report - December 6, 2013

The General Assembly has officially completed its business for the 2013 long session. The 2014 short session will begin on Wednesday, May 14, 2014. The MVA Public Affairs Legislative Report on North Carolina will be...more

PCAOB Reproposes Rule Requiring Engagement Partner To Be Named In Audit Report

The Public Company Accounting Oversight Board has reproposed for public comment amendments to PCAOB auditing standards that would provide greater transparency into audits of public companies, brokers, and dealers about the...more

U.S. House of Representatives Oversight and Investigations Subcommittee Examines Disparate Impact Theory in Fair Housing and...

On November 19, 2013, the Oversight and Investigations Subcommittee of the U.S. House of Representatives Committee on Financial Services conducted a hearing titled "A General Overview of Disparate Impact Theory." Under the...more

CFTC Announces Mutual Acceptance of Approved Legal Entity Identifiers

The CFTC announced that registered entities and swap counterparties subject to the CFTC’s jurisdiction may now comply with the CFTC’s swap data recordkeeping and reporting requirements with respect to Legal Entity Identifiers...more

North Carolina Legislative Report - November 15, 2013

The General Assembly has officially completed its business for the 2013 long session. The 2014 short session will begin on Wednesday, May 14, 2014. The MVA Public Affairs Legislative Report on North Carolina will be...more

Independent Directors Council Issues Report on Performance Oversight by Fund Boards

The Independent Directors Council issued a report designed to assist fund directors in their oversight of registered fund performance. The report discusses (a) how to understand the performance expectations for a fund based...more

New Legislation Would Revamp Suspension and Debarment

On October 29, 2013, the House Oversight and Government Reform Committee approved a bill to restructure suspension and debarment from federal procurement and non-procurement programs. The Stop Unworthy Spending (SUSPEND) Act...more

Inside M&A - Fall 2013

M&A Corporate Governance: Oversight of the Board’s Financial Advisors - Recent decisions in the Delaware Court of Chancery highlight the need for increased oversight of financial advisors by corporations engaging in...more

JPMorgan Chase to Pay Penalties for Oversight Deficiencies

On September 19, JPMorgan Chase entered into a consent Order of Assessment of a Civil Money Penalty with the Fed, the OCC, the SEC and the Financial Conduct Authority of the United Kingdom. The penalties issued by the...more

State of Iowa v. Rodney Lee Bean Affirms Need for Oversight of a Representative Under Power of Attorney

A recent criminal case, State of Iowa v. Rodney Lee Bean, Court of Appeals of Iowa, No. 3-494/11-1828 (September 5, 2013), shows us how elderly individuals can be easily abused, both physically and financially....more

When Are Directors Liable For Failing To Exercise Proper Oversight?

Recently we discussed whether directors of public companies face potential liability for not preventing cyber attacks. As we discussed, the answer is generally no, because absent allegations to show a director had a...more

Private Equity Activity in Contract Research Organizations: Recent Deals and Key Issues for Consideration

While the contract research industry has become increasingly attractive to private equity investors seeking growth opportunities and stable cash flow, investors and acquirers should not lose sight of the importance of...more

TIFIA Joint Program Office to Move?

In addition to taking testimony from public agency project sponsors and industry leaders during the July 24, 2013 oversight hearing on TIFIA conducted by the Senate Committee on Environment and Public Works, the Committee...more

Agreements Re-Entered Into Between City and Successor Agency Pre-AB 1484 are Enforceable Obligations - These Agreements May be...

A Sacramento County Superior Court has ruled that agreements formerly entered into between the city of Riverside and its redevelopment agency, and subsequently re-entered into between the city and the redevelopment agency’s...more

There are Bolts. Then There are Bay Bridge Bolts

Two days after the Toll Bridge Program Oversight Committee announced that the new $2.6 billion eastern span of the Bay Bridge would not open on Labor Day as scheduled – and possibly not until the earliest December – due to...more

Transforming Not-for-Profit Governance and Oversight in New York: The Nonprofit Revitalization Act and Executive Compensation...

The New York State Attorney General (AG) has teamed up with lawmakers to introduce two new bills that propose an overhaul of the Not-for-Profit Corporation Law (N-PCL), which has not seen significant change in more than 40...more

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