October 17, 2013

Corp Fin’s New Chief Counsel & Chief Accountant: Jonathan Ingram & Mark Kronforst

Hats off to Jonathan Ingram, who was tapped as Acting Chief Counsel & Associate Director for Corp Fin. Jonathan has served as Deputy Chief Counsel for nine years. And last week, Corp Fin announced that Mark Kronforst was promoted from Associate Director to the Division’s Chief Accountant. He fills a hole in the Division that has lasted several years. Craig Olinger had served as Acting Chief for quite a while – longer than some would stay in the job on a “permanent” basis…

With the shutdown finally over – just in time as the SEC was running on fumes – the SEC has removed the “operating status” box from its home page

Proxy Advisors: Nasdaq Files SEC Rulemaking Petition Seeking “Models & Methodologies” Disclosure

Last week, Nasdaq filed a petition for rulemaking with the SEC seeking more disclosure about how proxy advisors disclose their models and methodologies. The SEC’s existing positions in this area emanate from a ’03 amendment to the Investment Advisers Act and a pair of ’04 no-action letters. Here’s a WSJ op-ed from Nasdaq describing the petition. See Ning Chiu’s blog on the petition.

Mark Cuban: Jury Finds Not Liable of Insider Trading

Yesterday, as noted in this DealBook article, a jury found Mark Cuban not liable of insider trading (I had just blogged an update on this lengthy case). Although his trial wasn’t mentioned the night before during a Leno appearance, Mark was quite critical of the SEC during the remarks he made right after the verdict was read. The SEC takes another one on the chin in court…

– Broc Romanek