In this issue:
- Bylaw of Delaware Corporation Providing for Exclusive Forum in North Carolina Upheld
- FINRA Board to Consider Rule Proposals Regarding Private Trading Platforms
- CBOE and C2 in Discussions With FINRA for Regulatory Services
- SEC Proposes Rule for Communications Involving Security-Based Swaps
- CFTC Aligns CPO Regulation With JOBS Act, Provides Other Guidance for CPOs
- OTC Derivatives Regulators Issue Report Regarding Cross-Border Issues
- First Bitcoin Swap Proposed
- Eighth Circuit Clarifies False Claims Act Pleading Standards for Whistleblowers
- Investment Management Firm Discloses Wells Notice Over Performance Claims
- Banking Agencies Request Comment on Proposed Questions and Answers Regarding Community Reinvestment
- Federal Reserve and CFPB Announce Increases in Dollar Thresholds in Regulations Z and M for Exempt Consumer Credit and Lease Transactions
- AIFMD: Additional Alternative Investment Fund (AIF) Data Request by FCA
- UK Court Decision Demonstrates Importance of Compliance With ISDA Market Quotation Procedures
- Excerpt from Bylaw of Delaware Corporation Providing for Exclusive Forum in North Carolina Upheld:
In City of Providence v. First Citizens Bancshares, Inc., C.A. No. 9795 (Del. Ch. Sep. 8, 2014), Delaware Chancellor Bouchard upheld a bylaw adopted by the board of directors of a corporation incorporated in Delaware providing that intra-corporate disputes be litigated exclusively in North Carolina. City of Providence relies heavily upon then-Chancellor Strine’s June 2013 opinion in Boilermakers Local 154 Retirement Fund v. Chevron Corporation, 73 A.3d 934 (Del. Ch. 2013) (Chevron), which found that exclusive forum bylaws are facially valid.
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