November 15, 2012

SEC Finally Issues Hurricane Sandy Relief

Ever since the SEC announced a week ago that it was giving relief to those impacted by Hurricane Sandy, I have been blanketed with questions about what exactly are the parameters of the relief. As noted in this press release, the SEC finally issued an exemptive order spelling out those details of conditional relief in a wide variety of areas including ’34 Act filing deadlines, S-3 & S-8 eligibility, Rule 144 public information criteria, proxy delivery requirements to impacted areas and more (eg. auditor independence requirements as they relate to reconstruction of previously existing accounting records for audit clients).

To get a sense of how the SEC works – which might help explain why it takes as long as it does to get an order like this out the door – tune in to our upcoming webcast: “How the SEC Really Works.” Even if you work at the SEC, I think this program will be instructive as to how offices other than yours function…

The Latest SEC Enforcement Stats

Yesterday, the SEC issued this press release highlighting the victories of the Enforcement Division over the past year – including noting that the agency has brought financial crisis actions against 117 defendants over the past 2.5 years. Insider trading cases essentially were flat compared to the prior year. and there were 79 actions related to disclosure violations…

November-December Issue: Deal Lawyers Print Newsletter

This November-December issue of the Deal Lawyers print newsletter was just sent to the printer and includes articles on:

– “But I Just Work Here!”: The Rise of Corporate Officer Fiduciary Liability
– When Companies Combine: Object Lessons in Managing Leadership Succession
– Vintage Deal Tools Reemerge
– Analysis: Say-on-Golden-Parachute Voting
– Checklist: How to Handle Stockholder List Requests

If you’re not yet a subscriber, try a “Free for Rest of ’12” no-risk trial to get a non-blurred version of this issue on a complimentary basis.

– Broc Romanek