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SEC Proposes To Use Investment Advisers Act To Stop Pay To Play Practices Involving Government Pension Plans
The Securities and Exchange Commission (the "SEC") has proposed Rule 206(4)-5 (SEC Rel. No. IA-2910 (8/3/09)) (the "Proposed Rule") under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), designed to prevent "pay to play" practices by registered and nonregistered investment...
Read MoreThe FTC And DOJ: More Aggressive Antitrust Enforcement?
Editor: I sense that a real shakeup is taking place at the DOJ. Newborn: With the Obama victory there's going to be a major change in antitrust enforcement at the Department of Justice. There's a widespread perception, which I think is accurate, of underenforcement during Bush's two terms. Many...
Read MoreProxy Access: The SEC's Proposal And Private Ordering
Editor: Todd, tell our readers about your background. Lang: I received both my bachelor and law degrees at Yale. I've been with Weil, Gotshal & Manges since graduating from law school, and for many years co-managed the firm and headed its corporate, securities and M&A practice. I...
Read MoreNew Regulations Implementing The New York WARN Act
The New York Worker Adjustment and Retraining Notification Act ("NY WARN") took effect on February 1, 2009. (N.Y. Labor Law § 860, et seq .) NY WARN provides additional significant protections to New York employees beyond those provided under the federal Worker Adjustment and Retraining...
Read MoreHow English Courts Support The Arbitral Process
Editor: How do English courts treat requests to support the arbitral process? Maples : It is worth recognizing why parties choose to arbitrate rather than to litigate their disputes. They may see it as a more confidential process and they may prefer it for having a more flexible procedural regime...
Read MoreFed Expands TALF To Include Legacy CMBS
The Federal Reserve Bank of New York ("FRBNY") recently announced that certain commercial mortgage-backed securities ("CMBS") issued before 2009 would become eligible collateral under the Term Asset Backed Securities Loan Facility ("TALF"). The initial subscription deadline for CMBS minted in 2009...
Read MoreOverview Of The Proposed SEC Rules Mandating Proxy AccessOr Stable Value Funds
Introduction On May 20, 2009, the U.S. Securities and Exchange Commission proposed a new proxy rule - Rule 14a-11 - that would provide shareholders meeting certain eligibility standards with access to corporate proxy materials for their nominees for election as directors. Other proposed...
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