Printable PDFOn March 30, 2011, the Securities and Exchange Commission (the "SEC") voted unanimously to propose rules implementing Section 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act") relating to: (1) compensation committee member independence; (2) compensation consultant and other adviser independence; and (3) compensation committee authority to retain, and disclosure regarding use of, compensation consultants and other advisers. In our July 21, 2010 client memorandum, available here, we describe in detail Section 952 of the Dodd-Frank Act, which added a new Section 10C to the Securities Exchange Act of 1934 (the "Exchange Act").The proposing release is available here. The SEC is seeking public
March 31, 2011
Los Angeles associate Colin C. Richard is the author of "Dodd-Frank, International Remittances, and Mobile Banking: The Federal Reserve's Role in Enabling International Economic Development," published in the Northwestern University Law Review Colloquy, March 2011.
March 31, 2011
New York partners Mark K. Schonfeld and Barry R. Goldsmith and Washington, D.C. partner John H. Sturc are authors of "The Expansion of SEC Enforcement Under the Dodd-Frank Act" [PDF] published in the March 2011 issue of The Review of Banking and Financial Services.
March 31, 2011
Printable PDFOn 30 March 2011, the UK's Ministry of Justice published its long-awaited (and repeatedly delayed) Bribery Act 2010 guidance (the "Guidance") on the "adequate procedures" that businesses should implement both to prevent persons associated with them from paying bribes and to qualify for the Act's safe harbour from corporate liability for failure to prevent bribery.
March 31, 2011
On January 2, 2011, the United States imposed a two-percent excise tax on payments received by foreign entities for the sale of goods or services to the U.S.
March 30, 2011
Printable PDFThe Panel Holds Its Ground -- An Analysis of Some of the Key Proposals Introduction -- The Panel Stands FirmIn late November 2010, we published an article on the policy statement of the UK Panel on Takeovers and Mergers (Panel) which set out the ground work for changes to the rules governing the conduct of public takeovers in the UK as embodied in the UK Code on Takeovers and Mergers (Code).
March 29, 2011
Dallas partner James Ho is the author of a series of articles regarding the Texas Open Meetings Act, published in The Dallas Morning News [PDF] and the Austin American-Statesman [PDF].
March 29, 2011
Vietnam has recently passed some new regulations which may have an impact upon foreign investors in the country. This update briefly describes these new regulations and also considers some recent developments relating to corruption risks and anti-bribery enforcement actions relating to Vietnam.Nationally Important ProjectsUnder Vietnamese law, "nationally important" projects not only require the normal approvals from the various People's Committees and other licensing authorities, they also require the approval of the Vietnamese National Assembly. The definition of "nationally important" included (amongst other things) threshold amounts over which Vietnamese National Assembly approval was required. The Vietnamese National Assembly recently passed Resol
March 28, 2011
Printable PDFThere was a time when a dramatic decline in the price of a company's stock would virtually guarantee a complaint alleging securities fraud. But it no longer suffices for federal securities plaintiffs simply to allege that they purchased defendants' stock at an "inflated" price; instead, they must now plead and prove "loss causation," i.e., that their losses were caused by fraud. 15 U.S.C.
March 28, 2011
Printable PDF On March 22, 2011, the United States Supreme Court issued a unanimous opinion affirming the Ninth Circuit's decision in Siracusano v. Matrixx Initiatives, Inc., 585 F.3d 1167 (9th Cir.
March 25, 2011
As the Supreme Court accepts additional cases for review and issues new opinions, Gibson Dunn's Supreme Court Round-Up is summarizing key developments at the Court. This edition of the Round-Up summarizes:the 24 decisions that the Court has issued in argued casesthe Questions Presented in the 34 cases that have been argued and are awaiting a decisionthe Questions Presented in the 20 cases that will be argued during the remainder of the Termthe issues to be addressed in the 8 cases that the Court has slated for argument next TermSpearheaded by former Solicitor General Theodore B.
March 18, 2011
On March 8, 2011, France's highest court, the Cour de cassation, confirmed that CMBS borrower, Heart of la Défense SAS (Hold), and its Luxembourg parent company, Dame Luxembourg Sarl (Dame), were entitled to Court protection in France under Safeguard Proceedings (sauvegarde).
March 17, 2011
Los Angeles partner Jeffrey D. Dintzer and associate Elizabeth M. Burnside are the authors of "Take It Easy on Fracking" [PDF] published by Law360 at www.law360.com on March 15, 2011.
March 15, 2011
Century City partner Ari Lanin and Los Angeles associate Daniela Stolman are the authors of "Building a Better Insider Trading Compliance Program" [PDF] published in the March 2011 issue of Insights.Reprinted with the permission of Aspen Publishers www.aspenpublishers.com.
March 15, 2011
Washington, D.C. partner Judith Lee and associate James Doody are the authors of "2010: OFAC's Big Year" [PDF] published by Law360 at www.law360.com on March 14, 2011.
March 14, 2011
Printable PDFOn March 8, 2011, the U.S. Court of Appeals for the Ninth Circuit issued its decision in Network Automation, Inc. v. Advanced Systems Concepts, Inc., No.
March 11, 2011
New York partner J. Eric Wise and of counsel Matthew Kelsey are the authors of "Restructuring Issues Concerning Real Estate Projects" [PDF] published in the March 10, 2011 issue of BNA's Bankruptcy Law Reporter.Reproduced with permission from BNA's Bankruptcy Law Reporter, 23 BBLR 311 (March 10, 2011).
March 10, 2011
Printable PDF On March 1, 2011, the United States Supreme Court issued its opinion in Federal Communications Commission v. AT&T Inc., No. 09-1279, addressing whether corporations are eligible to benefit from certain "personal privacy" protections under the Freedom of Information Act ("FOIA").
March 9, 2011
Paris partner Jérôme Delaurière is the author of "News Analysis: U.S. Debt Push-Down in a French Subsidiary -- The Good and the Bad" [PDF] published in Tax Notes International on March 9, 2011.
March 9, 2011