TheCorporateCounsel.net

June 6, 2006

Notices of Effectiveness Now Online

As I blogged a month ago, the SEC recently announced that it will use EDGAR to post notices of effectiveness for registration statements (and post-effective amendments). The SEC has now begun posting these notices on this web page – and here is an example of what these online notices look like. Notices of effectiveness can also be found by searching for the EDGAR form type “EFFECT.”

The SEC states it will post these notices on the morning after the filing is declared effective and will no longer mail out paper copies (although it will continue to notify registrants by telephone that a registration statement or post-effective amendment has gone effective).

Who could possibly care about all this? Well, I guess it’s a big deal for the associates and paralegals who no longer will have to try to track down paper notices for a deal closing; they often were mailed by the SEC weeks and weeks after effectiveness in the past.

Alan Beller Rejoins Cleary Gottlieb

Following the footsteps of former SEC General Counsel Giovanni Prezioso, Alan Beller has decided to also return to his old law firm, Cleary Gottlieb Steen & Hamilton. Alan will practice in the firm’s New York office.

Yesterday, the SEC announced that it had woo’ed Andy Vollmer from his partnership at Wilmer Hale to serve as Deputy General Counsel of the SEC. Andy, who specializes in internal investigations, will nicely complement General Counsel Brian Cartwright, who specialized in Corp Fin issues during his private practice days.

Remembering Ken West – In Gratitude and Deep Respect

I am sad to say that Ken West passed away recently. Those of you that heard Ken speak at last year’s “2nd Annual Executive Compensation Conference” know what a source of strength he was for all of us endeavoring to “do the right thing.” Below is a remembrance from Don Delves (and here is a brief article written by Ken for Directors & Boards):

“The corporate governance community lost one of its finest members with the recent passing of Ken West. As long-time Chairman of the NACD, Governance Consultant to TIAA-CREF, and board member, Ken fostered a tremendous amount of positive change in the operation and effectiveness of countless boards. He worked quietly, behind the scenes, gently wielding a big stick and systematically persuading wayward boards to adopt better practices.

He did so as a gentleman and veteran business leader, talking to other business leaders about how they might operate with greater integrity and higher standards. Ken used his position as an extraordinarily well-liked and well-respected member of the director community to challenge that community–our community–to recognize our shortcomings and to be our best. He was also a mentor and advisor, encouraging many of us to take thoughtful, measured and sometimes risky stands for changes we thought were in the best interests of company and shareholders. We will miss Ken for his candor, his courage and his friendship.”