TheCorporateCounsel.net Blog |
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Friday, January 31, 2003
Reflecting the slow deal market, after a failed attempt to merge with Morgan Lewis and a defection by many top partners, it appears that Brobeck, Phleger & Harrison is close to disbanding. Thursday, January 30, 2003
At a conference in San Diego today, Marty Dunn, Corp Fin Deputy Director, revealed that the staff already has received over 450 requests for no-action relief regarding shareholder proposals - which equals the near record amount received during all of last proxy season. At this rate - because February and March are very heavy months to process these requests - it appears that the staff might process more than 50% more than they have at any other time. The SEC has posted the adopting release regarding attorney conduct - along with a second release seeking additional comments on the proposed noisy withdrawal provisions and an alternative approach.The adopting release is at http://www.sec.gov/rules/final/33-8185.htm - and the proposing release is at http://www.sec.gov/rules/proposed/33-8186.htm. Wednesday, January 29, 2003
In connection with the audit of Xerox, the SEC has filed fraud charges against KPMG - and four partners of KPMG - in a NY federal district court - see http://www.sec.gov/news/press/2003-16.htm. The SEC has posted the final rules on auditor independence implementing SOX 208, 201-204 and 206 at http://www.sec.gov/rules/final/33-8183.htm. Later today, we will post our "Sarbanes Oxley Scorecard" on the home page of TheCorporateCounsel.net - to facilitate your ability to access each proposing and adopting release. In addition, we will post a checklist of disclosure items to consider for this year's 10-K early next week as part of the February E-Minders. Tuesday, January 28, 2003
In the Division of Corporation Finance, Shelley Parratt has been promoted to Deputy Director (Operations) - and Marty Dunn's title changes a little to Deputy Director (Legal). This is the first time in memory that Corp Fin has had dual deputy directors. Paula Dubberly has been promoted to Associate Director (Legal) - my former and wonderful boss - leaving the Chief Counsel slot open. Congrats to both!!! Monday, January 27, 2003
Tommorrow, former CSX chair John Snow - and President Bush's nominee for Treasurer - faces a potential challenging confirmation hearing in the Senate. Mr. Snow also co-chaired The Conference Board's Commission regarding corporate governance reform that issued its final report a few weeks ago. In response to subscriber demand, we have posted a sample whistleblowing policy - courtesy of Sharon Hendricks and Venture Law Group - on TheCorporateCounsel.net. |
