In this issue:

- Voluntary Withdrawal of Appeal in Delaware Exclusive Forum Bylaw Case

- SEC Chair Speaks on Public Company Disclosure

- Identity of Heinz Traders Uncovered in $4.8 Million Insider Trading Settlement with the SEC

- SEC Scores in Accounting Fraud Suit Against BankAtlantic Corp. and Former CEO

- Federal Reserve and OCC Issue Final Rules Replacing Existing Risk-Based and Leverage Capital Rules

- Excerpt from: SEC Chair Speaks on Public Company Disclosure:

On October 15, Mary Jo White, Chairwoman of the Securities and Exchange Commission, delivered a speech to the National Association of Corporate Directors regarding the current state of public company disclosure. Chairwoman White emphasized that the core purpose of public company disclosure is to provide investors with the information they need to make informed investment and voting decisions, and raised the question “whether investors need or are optimally served by the detailed and lengthy disclosures about all of the topics that companies currently provide in the reports they are required to prepare and file with us.” She also discussed the mandate under the Jumpstart Our Business Startups Act for the Division of Corporation Finance to review the current disclosure requirements of Regulation S-K and consider how to modernize, simplify and reduce the burden of such requirements, noting that the Division of Corporation Finance is finalizing its report in response to this mandate. Chairwoman White stated that this report would be “only the first step in any potential review effort,” and went on to discuss certain areas that she would like the SEC to explore in evaluating the current disclosure regime.