It's Coming: SEC to Consider Proxy Access on Wednesday
As I blogged a few weeks ago, the SEC will consider adopting its proxy access rules next Wednesday, August 25th at an open Commission meeting. No word on how the big question marks - the ownership threshold and holding period - will be resolved.
There has been a flurry of last minute lobbying by a number of groups and I wonder how much of a spectacle the meeting will be. My guess is "not much" as open Commission meetings tend to be fairly mellow, but you never know. But there could be fireworks shortly afterwards. As noted in this Bloomberg article, the US Chamber of Commerce may be gearing up to sue if the SEC approves access.
30 More Days for Comments: FASB's Disclosure of Contingencies Proposal
Yesterday, the FASB extended the comment period on its proposal to revise the disclosure requirements for loss contingencies by 30 days so that it now ends on September 20th rather than August 20th. Note that the FASB has not changed the proposed effective date (at least not yet). The proposal continues to be controversial, as reflected by this US Chamber editorial yesterday in the WSJ (here is the Chamber's letter).
Overcoming the Challenges: Integration Issues & Merger of Equal Issues
We have posted the transcript for our recent DealLawyers.com webcast: "Overcoming the Challenges: Integration Issues & Merger of Equal Issues."
For dog lovers only: Back in '81, Jimmy Stewart delivered this memorable poem about a dog named "Beau" on the Johnny Carson show. It's quite moving if you watch it to the end...
- Broc Romanek