Last week, the North American Securities Administrators Association filed an amicus brief in the litigation initiated by Montana and Massachusetts seeking to invalidate the SEC’s Regulation A amendments. As Broc recently noted, Montana and Massachusetts have also filed their briefs in the case. Not surprisingly, NASAA supports the efforts of Montana and Massachusetts, arguing that the SEC went too far in preempting state regulation of Tier 2 Regulation A offerings.
Senate Democrats Turn Up the Heat on Political Spending Disclosure
It is that perennial disclosure topic for discussion, and the debate grows only louder every time an election approaches: political spending disclosure. For reasons that I have never been able to understand, for many years various interest groups have been seeking to hijack the public company disclosure system to mandate specific disclosure about the money that companies spend on political activities, even though the amounts involved are often miniscule and by no means material. The SEC, to its credit, has withstood the onslaught of calls for more disclosure for as long as I can remember. (If only the SEC was able to stand its ground as well on conflict minerals disclosure.)
The latest salvo in this war of words came last week, when forty-four Senate Democrats sent a letter to Chair White expressing support for the rulemaking petition that was submitted way back in 2011 and which called for disclosure of how public companies use company resources for political activities. The letter from the Senators cites the more than one million comments that have been submitted in support of the rulemaking petition, and asks that the Commission make this topic a top priority.
Just Printed: The 2015 Edition of “The Corporate Governance Treatise”
We are happy to say the 2015 Edition of Morrison & Romanek’s “The Corporate Governance Treatise” is done being printed. Here’s the “Table of Contents” listing the topics so you can get a sense of the Treatise’s practical nature.
You will want to order now so you can receive your copy as soon as it’s done being printed. With over 1000 pages — including 239 checklists — this tome is the definition of being practical. You can return it any time within the first year and get a full refund if you don’t find it of value.
– Dave Lynn