December 7, 2009

Today at the US Supreme Court: The Battle Over the PCAOB

You would figure one of the benefits of living in the DC area is that I would have gotten a chance to see the Supreme Court live during oral argument. But it’s not easy to gain entrance. I’m happy to say that I’m heading down there this morning to watch the Supreme Court deliberate the future of the PCAOB (and possibly reshape other aspects of Sarbanes-Oxley too – see this Bloomberg article) when it considers Free Enterprise Fund v. PCAOB. I’ll be giving a full report on the SCOTUS experience later this week.

Meanwhile, take a gander at the numerous merit and amicus briefs filed in the case so far with SCOTUS. Also check out this amicus brief filed by nine members of the Council of Institutional Investors, CFA Institute and others (it was the first one filed in support of the PCAOB).

Last week, the PCAOB approved its a five-year budget and strategic plan this week, which is now subject to SEC approval. The PCAOB seeks a 16% increase in its 2010 budget, from $157.6 million to $183.3 million (raising the Staffing level to 636).

Tomorrow, as noted in the SCOTUS blog, the US Supreme Court will hear oral arguments regarding the Hollinger case (executive pay and fraud). And Kevin LaCroix notes that SCOTUS has granted certiorari in a “f-cubed” case.

Ask the Experts: Prepping for a Wild Proxy Season

We have posted the transcript for our recent webcast: “Ask the Experts: Prepping for a Wild Proxy Season.”

Ask the Experts: Schedule 13D and Schedule 13G Issues

With investors becoming more active – with many pursuing the same agenda – the issues implicating Schedule 13D and 13G have become more common and more complex. Join tomorrow for the webcast – “Ask the Experts: Schedule 13D and Schedule 13G Issues” – and hear from:

Dennis Garris, Partner, Alston & Bird LLP and former Chief, SEC’s Office of Mergers & Acquisitions
Jim Moloney, Partner, Gibson Dunn & Crutcher LLP and former Special Counsel, SEC’s Office of Mergers & Acquisitions
Chuck Nathan, Partner, Latham & Watkins LLP
David Sirignano, Partner, Morgan Lewis & Bockius LLP and former Chief, SEC’s Office of Mergers & Acquisitions

They will be answering this list of questions

Act Now: Renew your membership for 2010 as all memberships expire at the end of this month. Or try a no-risk trial for 2010 and catch this webcast for free.

– Broc Romanek