We finally have the various pieces of the reform bills separately passed by the House Financial Services Committee rolled into one document, HR 4173 – “The Wall Street Reform & Consumer Protection Act of 2009” – as the Committee passed the last piece of it on Wednesday. Here is that 1279-page document that the House is expected to vote on next week. It is likely it will pass along party lines – the question is what amendments will occur before it is passed as noted in my blog from Monday…
Nasdaq Mandates 10-Minute Prior Notification of Material Information
Recently, the SEC approved a Nasdaq rule change to Rule 5250(b)(1) and IM-5250-1 so that Nasdaq-listed companies will be required – rather than merely urged – to provide Nasdaq with at least 10 minutes notification when releasing material information; the change to IM-5250-1 also ensures that Nasdaq’s rules are consistent with the SEC’s interpretive guidance on the use of company websites to satisfy public disclosure requirements (ie. softening language that web posting alone “will not” satisfy Regulation FD to “may not” satisfy). The rule changes become operative on December 7th.
More on “The Mentor Blog”
We continue to post new items daily on our new blog – “The Mentor Blog” – for TheCorporateCounsel.net members. Members can sign up to get that blog pushed out to them via email whenever there is a new entry by simply inputting their email address on the left side of that blog. Here are some of the latest entries:
– Suing Research Firms that Dissent
– The Buck Starts Here: GCs Should Advocate for Good Corporate Governance
– Only Interested in Transactional Law: The New Prospective Summer Associate Taboo?
– Nell Minow on “The New Fundamentals”
– Life Balance Issues for Executive Spouses
– Broc Romanek