News & Analysis as of

Board of Directors Comment Period

Ropes & Gray LLP

SEC Notices Simplified Co-Investment Relief: A Sigh of Some Relief for Regulated Funds and Their Affiliates

Ropes & Gray LLP on

On April 3, 2025, the SEC filed a notice of intent to grant FS Credit Opportunities Corp. et. al.’s (“FS”)1 amended application for an order permitting certain business development companies (“BDCs”) and closed-end management...more

Wilson Sonsini Goodrich & Rosati

ISS and Glass Lewis Launch Annual Policy Surveys

On August 1, 2024, ISS Governance (ISS) announced the launch of its Annual Benchmark Policy Survey. The survey results will inform ISS’s policy development for 2025 and beyond. For the U.S. market, the survey solicits views...more

Seward & Kissel LLP

SEC Proposes Update to Definition of Qualifying Venture Capital Fund

Seward & Kissel LLP on

Who may be interested: Boards of Directors, Investment Advisers, Compliance Staff - Quick Take: The SEC proposed Rule 3c-7 under the 1940 Act, which would inflation adjust the dollar threshold for a fund to meet the...more

Goodwin

FDIC Proposes Guidelines Establishing Standards for Corporate Governance and Risk Management for Covered Institutions with Total...

Goodwin on

On October 3, 2023, the Federal Deposit Insurance Corporation (FDIC) approved proposed guidelines establishing standards for corporate governance and risk management for covered institutions with total assets of $10 billion...more

WilmerHale

New York Department of Financial Services Proposes Heightened Standards for Character and Fitness of Executives

WilmerHale on

On May 9, New York State Department of Financial Services (DFS or the Department) Superintendent Adrienne A. Harris issued proposed guidance to clarify the DFS’s updated expectations regarding the review and assessment of the...more

Katten Muchin Rosenman LLP

SEC Comment Period Ends for Controversial Proposal Regarding Clawbacks of Executive Incentive Compensation Without Official Action

On October 14, Chairman Gensler announced that the Securities and Exchange Commission (SEC) would reopen the comment period for the controversial compensation clawback rule that it had initially proposed in 2015 in response...more

Kramer Levin Naftalis & Frankel LLP

SEC Proposes Major Amendments to Money Market Fund Rules

On Dec. 15, 2021, the Securities and Exchange Commission (SEC) voted to propose amendments to certain rules governing money market funds under the Investment Company Act of 1940 (the 1940 Act). The SEC indicated that the...more

Keating Muething & Klekamp PLL

SEC Rules Establish New Requirements For Director Elections, Universal Proxy Cards And Enhanced Proxy Disclosures; Additional...

In a move we expect will pave the road for an increase in proxy contests, on November 17, 2021, the Securities and Exchange Commission adopted new Rule 14a-19 and amendments to existing rules under the Securities Exchange Act...more

Cooley LLP

ISS Releases Draft 2022 Benchmark Policy Updates, Seeks Comments by November 16, 2021

Cooley LLP on

Background On November 4, 2021, Institutional Shareholder Services (ISS) released proposed updates to its US benchmark voting policies for 2022, with a public comment period running through November 16, 2021. The draft policy...more

Stinson - Corporate & Securities Law Blog

ISS Publishes Proposed Changes for 2022 for Comment

ISS has published proposed policy changes for 2022 for public comment. The following summarizes proposed changes for the U.S. market....more

Mayer Brown Free Writings + Perspectives

SEC Reopens Universal Proxy Comment Period

On April 16, 2021, the US Securities and Exchange Commission (SEC) issued a release reopening the comment period (Reopening Release) on its proposal for a mandatory universal proxy to be used for all contested director...more

BCLP

Nasdaq Board Diversity Proposal Faces Backlash

BCLP on

Nasdaq’s recent proposal mandating board diversity faces backlash, as 12 Republican senators on the U.S. Senate Banking Committee last week urged the SEC not to approve the proposed rules, which would require all U.S....more

Goodwin

Financial Services Weekly Roundup: The OCC’s True Lender Test Embraces A Simplified Solution

Goodwin on

In This Issue. The Office of the Comptroller of the Currency (OCC) proposed a rule that would establish that a national bank or federal savings association is the “true lender” of a loan if, as of the date of origination, the...more

Goodwin

SEC Proposes New Rule to Change Regulatory Framework for Fund Boards in Making Good Faith Determinations of Fair Value

Goodwin on

On April 21, 2020, the U.S. Securities and Exchange Commission (the “SEC”) voted to propose new Rule 2a-5 (the “Proposed Rule”) under the Investment Company Act of 1940 (the “1940 Act”) that, if adopted, would establish a...more

Kramer Levin Naftalis & Frankel LLP

Federal Reserve Proposes To Clarify Bank Control Rules

Investors that own large stakes in a bank can trigger the Federal Reserve’s oversight if they have “controlling influence” over the bank. ...more

Orrick - Finance 20/20

Federal Reserve Board Issues Interim Final Rule Expanding the Applicability of the Board’s Small Bank Holding Company Policy...

On August 28, 2018, the Federal Reserve Board published “an interim final rule expanding the applicability of the Board’s small bank holding company policy statement[.]” ...more

Akin Gump Strauss Hauer & Feld LLP

FERC Proposes to Clarify and Streamline Its Interlocking Directorate Regulations

On July 19, 2018, the Federal Energy Regulatory Commission (FERC or the “Commission”) issued a Notice of Proposed Rulemaking (NOPR) to update and clarify its regulations covering “interlocking directorate” positions (i.e.,...more

Stinson - Corporate & Securities Law Blog

Fed Seeks Comment on Corporate Governance Proposal for Financial Institutions

In June, Treasury issued a report noting that it believes duties imposed on bank boards are too voluminous, lack appropriate tailoring, and undermine the important distinction between the role of management and that of boards...more

Akin Gump Strauss Hauer & Feld LLP

SEC Proposes Rules for Requiring Universal Proxy Cards in Contested Director Elections

During its open meeting last week, the Securities and Exchange Commission (SEC) voted to propose amendments to the federal proxy rules to require the use of universal proxy cards for all annual or special meetings with...more

Allen Matkins

California, Delaware And Nevada Differ On Committee Composition

Allen Matkins on

In a prior post, I compared the differing limitations on committee authority under California and Delaware law. Today’s post focuses on differences in committee composition among California, Delaware and Nevada. These are...more

Winstead PC

Agencies Propose Incentive Compensation Rules for Financial Institutions

Winstead PC on

The Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the U.S. Securities and Exchange Commission recently proposed new restrictions...more

Latham & Watkins LLP

Revised Rules on Dodd-Frank Incentive Compensation Requirements for Financial Institutions Proposed

Latham & Watkins LLP on

If adopted, the Proposed Rule would have a significant impact on compensation practices at covered institutions. On April 21, 2016, the National Credit Union Administration (the NCUA) issued a proposed rule regarding...more

Allen Matkins

ISS Proposes To Go Overboard In Proposed Policy Change

Allen Matkins on

Institutional Shareholder Services Inc. (ISS) is a very influential purveyor of proxy advisory services.  As part of ISS’ annual policy update procedure, ISS recently released a proposed policy change with respect to...more

Katten Muchin Rosenman LLP

SEC Proposes Liquidity Management Rules for Mutual Funds and ETFs

On September 22, the Securities and Exchange Commission proposed a comprehensive package of rule reforms designed to enhance effective liquidity risk management by open-end funds, including mutual funds and exchange-traded...more

Proskauer - Corporate Defense and Disputes

Proposed AML Regulations for Registered Investment Advisers Released by FinCEN

On August 25, 2015, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released proposed rules that would require investment advisers that are registered or required to be registered (RIAs)...more

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