November 21, 2007

Corp Fin’s New Deputy Director and Chief Accountant

Yesterday, the SEC announced that Brian Breheny has been promoted to be Corp Fin’s Deputy Director for Legal and Regulatory Policy (which was Marty Dunn’s former job). Brian has been Chief of Corp Fin’s Office of Mergers & Acquisitions since 2003. A new Chief of OM&A will be forthcoming, but not likely for at least several months.

Corp Fin also announced that Wayne Carnall will rejoin the SEC to serve as the Division’s Chief Accountant (a job that has been vacant for six months since Carol Stacey left). Wayne has been working in the National Office of PricewaterhouseCoopers since he left the SEC in 1997.

It’s On! SEC’s Open Commission Meeting Calendared for November 28th

Despite many objections (as I blogged yesterday), the SEC intends to forge ahead on shareholder access next Wednesday. And #2 on the meeting’s agenda (repeated below) is a shocker that nearly knocked me out of my chair:

1. The Commission will consider whether to adopt amendments to Rule 14a-8(i)(8) under the Securities Exchange Act of 1934, to clarify its longstanding interpretation of that rule.

2. The Commission will consider whether to adopt amendments to the proxy rules under the Securities Exchange Act of 1934 to facilitate the use of electronic shareholder forums.

A Little British Banker Humor

With a hat tip to Kevin LaCroix, here’s some British humor dealing with investment bankers, subprime, etc. Gobble, gobble!

– Broc Romanek