Brad Wood of Bass Berry gives us this news:
Please be aware that fraudulent solicitation letters are being sent to California businesses stating that such businesses are required to provide completed documentation – which looks very similar to state-required statements of information/annual reports – and submit an annual fee to a third party processor rather than directly to the Secretary of State office. I have not yet heard whether it has been happening in other states, but I wouldn’t be surprised if that were the case.
Board Portal Limits
During last week’s “Secrets of the Corporate Secretary Department” webcast, there was some interesting discussion regarding board portals – including their limits. In this podcast, Steve Shapiro of Pircher, Nichols & Meeks also describes the advantages – and limits – of board portals, including:
– What are the potential limitations of board portals that you see?
– Is there any way to compensate for those limitations?
– What advice would you offer for in-house governance professionals whose company has – or plans to use – a board portal?
Nasdaq Proposes Changes to Disclosure of Non-Compliance with Listing Standards
Recently, Nasdaq proposed to modify certain disclosure requirements surrounding a company’s non-compliance with the listing rules. Here’s a Blank Rome blog about its implications called “Has Your Company Received a Delisting Notice? Announce It Properly or Nasdaq May Announce It For You.”
– Broc Romanek