December 28, 2012

What If ISS Was Owned By An Activist Hedge Fund?

Comic book aficionados love the “what if” scenarios. For example, what if Conan battled Thor? Anyways, as noted in this Financial Times article, ValueAct Capital, an activist hedge fund, disclosed last month a 5% stake in MSCI, which owns ISS. What do you think the potential consequences could be if they increased their holdings to a controlling position? Is this different than Glass Lewis being owned by the Ontario Teachers’ Pension Plan?

Another Day, Another Judge Challenges a SEC Enforcement Settlement

The courts continue to pose one of the biggest threats to the SEC’s ability to do its job. As noted in this DealBook piece, Judge Richard Leon of the Federal District Court in DC has held up a FCPA settlement for nearly two years because of his demands for greater disclosure.

Escheatment: SEC Approves New Rules Regarding Lost Holders of Securities

As noted in this “Dodd-Frank Blog” by Ethan Mark of Leonard Street, the SEC has adopted rules applying the same type of escheatment procedures to brokers as it does to transfer agents.

– Broc Romanek