January 8, 2014

Warning! Appellate Panel May Strike Down the SEC’s Conflict Minerals Rules!

Yesterday, a hearing was held in the appeal over a district court’s decision upholding the SEC’s conflict minerals rules – and two members of the three-panel U.S. Court of Appeals for the District of Columbia Circuit repeatedly expressed concerns with the rules. In this Cooley news brief, Cydney Posner summarizes the highlights of this WSJ article and this Reuters article, who both sent reporters to the hearing. And here is a Compliance Week piece and a Gibson Dunn blog

Tune in today for the webcast – “The ‘Former’ Corp Fin Staff Speaks” – to hear former Senior Staffers from the SEC’s Division of Corporation Finance Brian Breheny of Skadden Arps, Meredith Cross of WilmerHale, Marty Dunn of Morrison & Foerster, Tom Kim of Sidley Austin and Dave Lynn of and Morrison & Foerster address this latest development, as well as these topics:

– Reg A +
– Reg D interps & practices
– Bad Actor drill down
– JOBS Act implementation
– Proxy advisor oversight
– Iran sanctions disclosure
– Conflict minerals & resource extraction
– Proxy access proposals
– Cybersecurity disclosures
– Political contribution disclosures

Social Security a Ponzi Scheme? Dude Calls the SEC

Pretty funny video as this guy, Steven Crowder, looks up ponzi scheme on the SEC’s website and places a call to the SEC to discuss Social Security – but not by name (at 2:00 minute mark). Having been on that end of the phone when I served in Corp Fin’s Office of Chief Counsel returning calls, I think the SEC Staffer does her job admirably putting up with this guy…

Speaking of being on the receiving end of calls, did you catch my 40-second vid entitled “Is ‘The Wolf of Wall Street’ Real? My Own Stratton Oakmont Story“? I blogged about it over the holiday and it got picked up as a news item on It’s got over 2100 visits already…

Webcast: “Executive Compensation Litigation: Proxy Disclosures”

Tune in tomorrow for the webcast – “Executive Compensation Litigation: Proxy Disclosures” – to hear Pillsbury’s Sarah Good, Wilson Sonsini’s Ignacio Salceda and Dave Thomas and Fenwick & West’s Scott Spector discuss what is involved in the latest rash of executive compensation-related lawsuits, as well as how to handle them.

– Broc Romanek